Court approves pSvida re-incorporation
Wednesday, 11 June, 2008
WA biotech pSvida (ASX: PSD) has received court approval to re-incorporate in the US, paving the way for the company to be re-listed on the NASDAQ stock exchange.
The company announced yesterday that the Federal Court of Australia had approved its reincorporation proposals.
The reincorporation will take effect today, and pSvida shares will start trading on NASDAQ starting today or Thursday.
As part of the process, pSvida will cease trading shares on the ASX, and won't resume full ASX trading until June 26.
pSvida will also begin trading on the Frankfurt Stock Exchange on Thursday.
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