Heartware closes oversubscribed
Thursday, 27 January, 2005
US artificial heart firm Heartware expects to have a market capitalisation of AUD$76.42 million when it lists on the ASX on Monday, having raised US$24.95 million (AUD$32.42 million) in an oversubscribed initial public offering.
The offer incorporates an AUD$5 million US private placement together with an Australian public offer at $0.50 per share.
Heartware is currently preparing a response to a lawsuit issued by Sydney artificial heart firm Ventracor (ASX:VCR) late last year alleging that Heartware's device infringed on the patents underlying Ventracor's ventricular assist device. The response is due by Feburary 7.
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