- Wattle Health Australia (WHA) is getting ready to trade again under a new name and ticker code after completing two acquisitions
- The healthcare stock says it’s been given conditional approval by the ASX to have its securities reinstated next week
- The company has been suspended for close to 18 months and suffered several changes in leadership and a collapse of a joint venture partner
- More recently, WHA announced a $2.88 million rights issue and finalised its purchase of Brand Solutions Australia and Pharma Solutions Australia
- Company shares last traded at 48.7 cents each in late 2019
Wattle Health Australia (WHA) is getting ready to trade again under a new name and ticker code after completing two acquisitions.
The healthcare stock announced on Friday it had been given conditional approval by the ASX to have its securities reinstated next week.
The reinstatement is conditional on WHA completing the acquisition of Brand Solutions Australia and Pharma Solutions Australia and issuing the shares under a $2.88 million rights issue.
If the company meets those requirements, its securities will begin trading again under the new name “Wellnex Life” and its new ticker code WNX.
WHA was suspended from trading around 18 months ago, and since then has suffered several changes in leadership as well as the collapse of a joint venture partner.
But once the rights issue and acquisitions are completed and WHA begins trading again, the company said it would boast $20 million in annualised revenue.
The healthcare stock also said it had a portfolio of consumer-ready brands and a long running distribution agreement with Chemist Warehouse.
WHA had previously been focused on baby formula, but said it would pivot to focus on the wider wellness and healthcare brands under the new company.
Wattle Health Australia shares remain suspended from trading, having last traded in late 2019 for 48.7 cents each.