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Peptech to use UK listing to drive growth strategy
20 / 11 / 2006
Australian biotechnology company Peptech Limited (ASX:PTD) ("Peptech" or the "Company") today announced in London it is preparing to list on AIM, a market regulated by the London Stock Exchange.
Peptech's Chief Executive Officer Dr John Chiplin said that the listing represented a significant milestone for the Company, creating an opportunity through AIM's global portal to develop broader institutional investor interest and to increase exposure to more significant capital markets to support the Company's aggressive growth strategy.
"Peptech is committed to exploiting its ongoing licensing revenue stream and robust cash position to pursue opportunities to strengthen its product pipeline and build scale through strategic acquisitions, as well as new product innovation and opportunistic asset realisations," he said. "It is the Board's expectation that the listing will provide Peptech with the international exposure necessary to build on our recent acquisition of biotechnology company Promics Limited and provide an opportunity for the Company to take advantage of strategic options in the European markets.
The AIM listing is expected to augment Peptech's existing shareholder register as well as providing stability as the Company moves into the next phase of its development. Peptech is anticipated to commence trading on AIM on 15 December 2006
Peptech's Chief Executive Officer Dr John Chiplin said that the listing represented a significant milestone for the Company, creating an opportunity through AIM's global portal to develop broader institutional investor interest and to increase exposure to more significant capital markets to support the Company's aggressive growth strategy.
"Peptech is committed to exploiting its ongoing licensing revenue stream and robust cash position to pursue opportunities to strengthen its product pipeline and build scale through strategic acquisitions, as well as new product innovation and opportunistic asset realisations," he said. "It is the Board's expectation that the listing will provide Peptech with the international exposure necessary to build on our recent acquisition of biotechnology company Promics Limited and provide an opportunity for the Company to take advantage of strategic options in the European markets.
The AIM listing is expected to augment Peptech's existing shareholder register as well as providing stability as the Company moves into the next phase of its development. Peptech is anticipated to commence trading on AIM on 15 December 2006