AFT Pharmaceuticals lists on the NZX Main Board and ASX

2pm NZT

AFT Pharmaceuticals lists on the NZX Main Board and ASX

Shares in AFT Pharmaceuticals Limited (“AFT”), began trading on the NZX Main Board and ASX today following the successful IPO that raised $35.6 million through the issue and sale of new and existing shares.

The shares in the growing multinational pharmaceutical business have been issued at $2.80 a share giving the company a market capitalisation of $271 million on listing.

CEO, Dr Hartley Atkinson says the offer has been well supported and the listing represents an excellent result.

“We welcome a number of institutional investors and members of public across New Zealand and Australia as shareholders, including a significant number of doctors, dentists and pharmacists.”

“We can now focus on our goals such as selling our existing products like Maxigesic to new international markets, and advancing our pipeline products like the SURF Nebuliser. The additional capital will enhance our ability to make the most of those identified opportunities.”

In connection with the successful IPO, AFT has also issued 100 shares (7,700 shares in total) to each employee (excluding executive directors) credited as fully paid up at an issue price of $2.80 per share, in consideration for their services as employees for the period through to 20 December 2015.

On listing, 11.23% of the shares in the company are held by 735Members of the Public whose names appear on the share register and who hold at least a Minimum Holding of shares (“Members of the Public” and “Minimum Holding” having the meanings given to them in the Listing Rules).

The Sole Lead Manager for the Offer was First NZ Capital.

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