TruScreen Shares Up 40 Percent on First Day of Trading
Posted by Fleur Revell
New Zealand company TruScreen Ltd [NZAX: TRU], which offers pioneering cervical screening technology, has enjoyed a successful first day of trading on the NZAX.
After opening at $0.16, the NZAX showed 718,059 trades worth a total $103,521 had been made. The shares closed the day at $0.14 a share, a 40% premium to the issue price of $0.10.
A total of 144 million shares were issued to new investors by the majority Kiwi owned firm.
TruScreen CEO Martin Dillon said the offer attracted strong support from a wide range of investors who saw the potential value in the technology.
“It’s great to see such strong interest on TruScreen’s first day of trading,” says Dillon. International support for the technology, which could have future potential application for detecting cancer in a broad range of tissue types, has been strong. Distribution partners are confirmed in 11 countries including China, Indonesia, Russia and Mexico, says Dillon.
Trading in TruScreen shares began at 11am New Zealand time with a market capitalisation of approximately $14 million based on the offer price of $0.10 a share.
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