JERUSALEM, Israel--(BUSINESS WIRE)--BioLineRx Ltd. (TASE:BLRX), today announced that its Board of Directors has directed the Company’s management to investigate various alternatives for raising additional capital and the listing of the Company’s ordinary shares for trading on The NASDAQ Stock Market (“NASDAQ”), in each case subject to market conditions and other considerations. This decision was based in part on the Board’s determination that a dual listing in the United States and the raising of additional capital will enhance shareholder value through the potential for increased liquidity. As part of the listing process, the Company plans to announce and hold a special meeting of its shareholders to approve a reverse split of its ordinary shares. A reverse stock split will reduce the number of ordinary shares outstanding, which should have the effect of increasing the price per share of the Company’s ordinary shares. The reverse split will therefore help the Company gain compliance with NASDAQ’s minimum bid price listing requirement. The Company also believes that a higher price per share could broaden BioLineRx’s appeal to investors, in addition to reducing per share transaction fees and certain administrative costs.
