Biotech Debut Sparks Rush

BIOTECH company Living Cell Technologies roared on to the Australian Stock Exchange yesterday 25 per cent above its issue price.The company is headquartered in Adelaide and raised $6.36 million from investors for more testing of its diabetes, Huntington’s disease and haemophilia treatments.Living Cell Technologies switched its listing to the ASX from the Newcastle Stock Exchange after offering 30 million shares at 20c each in its initial public offer. The shares hit the boards at 23.5c before closing at 25c.

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