Psivida closer to Nasdaq listing

Nanotechnology company Psivida (ASX:PSD) is to join a small band of Australian biotechs on the US Nasdaq market, announcing today it had filed a registration statement with the US Securities and Exchange Commission in relation to its planned listing of American Depositary Shares (ADSs).

Psivida expects its ADSs to begin trading before the end of January.

"The Nasdaq listing will enable a range of domestic US institutions whose investment guidelines are restricted to US securities, to trade our shares as a US ADR security," said CEO Gavin Rezos in an interview last year. "This ADR listing also provides potential representation of Psivida in US-based nanotechnology indices,"

Psivida currently trades on the ASX, on Frankfurt's XETRA and in the UK's OFEX International Market Service (IMS). Melbourne's Prana Biotechnology (ASX:PBT, NASDAQ:PRAN) and Genetic Technologies (ASX:GTX, NASDAQ:GNTLY) are also listed on Nasdaq.