VCR ventracor limited

$2 to $2.25 a share?

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    SYDNEY (Dow Jones)--Shares in Ventracor Ltd. (A.VCR), an Australian biotechnology company focused on the development of heart implants, have been placed on a trading halt pending an announcement to the market.

    The company provided no further details.

    Earlier Tuesday, the Australian Financial Review newspaper said the company was seeking to issue 12 million new shares through ABN AMRO Morgans.

    The company was seeking to raise about A$25 million to help fund the commercialization of its product, a person familiar with the situation told Dow Jones Newswires. The bookbuild price has been set at A$2.00 to A$2.25 a share, the person added.

    Shares in the company last traded at A$3.15.

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