- Reccce Pharmaceuticals (RCE) has become a dual-lister after assuming its position on a major German exchange
- The Australian pharmaceutical player will commence trading on the prominent European exchange today under the code R9Q
- RCE hopes the move will broaden its institutional and retail investors base across the E.U. and fuel awareness of its products
- The dual listing was enacted without any affiliated capital raising activities, which Recce says allows wider investor reach with minimal cost
- Recce Pharmaceuticals is up a healthy 3.06 per cent trading at $1.01
Reccce Pharamceuticals (RCE) has become a dual-lister after assuming its position on a major German exchange.
The Australian-based company will begin trading on the exchange today under the code R9Q with no affiliated capital raising activities.
According to Recce, the move is expected to broaden its institutional and retail investor base across the E.U., in alignment with increasing activity in the region.
The dual listing grants Recce a position on the twelfth largest stock exchange in the world by market capitalisation.
Recce has appointed Deutsche Gesellschaft Für Wertpapieranalyse as its investor and corporate relations advisor in Europe to engage investors and fuel awareness of Recce's products.
According to the company, the dual listing was enacted without many of the typical primary listing procedures, which it describes as a widening of investor reach with minimal cost.
Chairman of Recce Pharmaceuticals John Prendergast spoke highly of the dual listing.
"Dual listing on the Frankfurt Stock Exchange is a wonderful new chapter in our global strategy, " he commented.
"It sees the connection of E.U. biotech and overseas capital with the company’s New Classes of Synthetic Anti-Infectives development program.”
Recce Pharmaceuticals is up a healthy 3.06 per cent trading at $1.01 at 1:12 pm AEDT.