pSivida to trade on German exchanges

Perth-based nanotech company pSivida (ASX:PSD) will soon commence trading on the German stock exchanges in Berlin, Munich and Stuttgart after meeting all listing requirements, the company has announced.

According to managing director Gavin Rezos, the listings will raise the investment profile of the company in Europe, particularly as pSivida's UK subsidiary pSiMedica prepares to list in the UK.

The listings won't be accompanied by issue of new shares, but instead will allow European institutional and retail investors to trade pSivida shares more easily.

The company has new ties with Germany following its licensing deal with German research agency Forschungszentrum Julich, which has provided pSivida with optical mirror technology for use in its BioSilicon-based in vivo diagnostics project.

pSivida's share price rose nearly eight per cent to AUD$0.69 yesterday on the news.