AUCKLAND, NEW ZEALAND: Cancer diagnostics business, Pacific Edge Limited (PEB) will lodge an application with the Australian Stock Exchange (ASX) to dual list as a Foreign Exempt Entity.
Subject to the ASX accepting the application, PEB expects to be dual-listed on the ASX by the end of September 2021.
Pacific Edge intends to maintain its primary listing on New Zealand Stock Exchange (NZX).
The Board believes that a dual listing on the ASX is a logical progression for the company and a way of accessing a broader pool of institutional and retail investors who wish to share in PEB’s success.
Increasing the liquidity of our shares and widening our investor base have been consistent strategic objectives of the company.
The ASX has given its approval in principle for this application.
Chairman of Pacific Edge, Chris Gallaher, said: “We remain committed to our loyal New Zealand shareholder base, and our intention is to remain a New Zealand domiciled business. We are now seeing the value of our long-term strategy, with accelerating revenue growth as adoption of our Cxbladder products and test volumes grows.
The Board believes that listing on the ASX is a way, over time, of accessing a broader pool of specialist international healthcare, institutional and retail investors, whilst providing a stronger share trading environment with greater liquidity and the potential for ASX index inclusion, for the benefit of all shareholders.”
Pacific Edge is included in the S&P NZX50 and has a market cap of more than NZ$ 900 million (as at 28 August 2021).
Pacific Edge Limited (NZX: PEB) is a New Zealand publicly listed, cancer diagnostic business specialising in the discovery and commercialisation of diagnostic and prognostic tests for better detection and management of cancer.
Its Cxbladder suite of non-invasive, simple to use and accurate diagnostic tests provide actionable results, and better detection and management of urothelial cancer.
The company is developing and commercialising its range of Cxbladder bladder cancer tests globally through its wholly owned central laboratories in New Zealand and the USA.