Unknown party lists Psiron on Berlin-Bremen stock exchange

The Berlin-Bremen stock exchange in Germany has advised Psiron (ASX:PSX) that a third party has applied for the Sydney-based oncology therapy developer's shares to be listed on Freiverkehr, the stock exchange's third market segment.

A recognised market, Freiverkehr has been likened to London's AIM market, and operates in a similar over-the-counter fashion to the ADR system in the USA.

While Psiron does not know the name of the party that made the application, the brokerage company that arranged the listing is called Berliner Freiverkehr (Aktien).

Psiron company secretary Bryan Dulhunty said the process was "most intriguing" because the company did not get a say in the matter.

"We're still making inquiries but at this early stage it seems that it's out of our control," said Dulhunty. "Someone likes the Psiron story. Someone has gone to some time and effort to set up a market for us."

However, Dulhunty said that the history of Freiverkehr was a "bit tainted" with a number of high tech companies quoting themselves on the exchange five years ago. This resulted in Australians perceiving the exchange to have a "nasty speculative flavour".

"Providing we can ensure that there's not a speculative nature to this, and it's a real interest and a real market, I think it's quite positive," he said.

According to a notice from the Berlin-Bremen stock exchange, trading of Psiron's shares commenced on November 18, and Psiron has no rights in relation to its listing or removal from the exchange.