Bluechiip to list on ASX tomorrow

It’s taken nearly half a year and some revisions to the capital raising expectations, but finally Victorian medical sensor company Bluechiip will list on the ASX tomorrow.

After an announcement in January of this year that the company would seek to list with 24 million shares at 25c each, for a total raising of $6 million, the company extended its offer period twice and eventually lowered its capital target to $3 million.

The company will trade under the ASX ticker BCT.

Bluechiip invented and developed a wireless tracking system based on MEMS (Micro Electro Mechanical Systems) resonators, which are tiny mechanical devices with no electrical circuits. It can not only track an item similar to an RFID (Radio Frequency Identification)chip, but can also report key information such as the temperature of the sample inside.

The technology has initial applications in the healthcare industry particularly in cryogenic storage facilities, such as biobanks and biorepositories.

“We were delighted to successfully raise funds in this challenging market, particularly as we are a non-resources company,” said Mr Brett Schwarz, Managing Director and CEO of Bluechiip.

“We look forward to listing on the ASX and embracing the opportunities which listing brings.”