PSD psivida limited

psivda to reveal its latest plan

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    pSivda to reveal its latest plan
    Fleur Leyden
    15aug05

    DRUG DEVELOPER pSivida is expected to unveil plans of a significant American acquisition when its shares resume trading on the stock exchange today.

    The Perth company, which was recently added to the Nasdaq's new Health Care Index in the US, has been in a trading halt since August 3.
    The shares last traded at 87.5c.

    Speculation of an acquisition has been mounting and managing director Gavin Rezos said all would be revealed today.

    "We will be moving to clarify the speculation," Mr Rezos said.

    Although not confirming the size of the acquisition, Mr Rezos said the company was in discussions with a private US company.

    pSivida's market capitalisation has recently grown to $190 million.

    When its initial two-day trading halt was extended word failed to go through to NASDAQ which briefly reopened trading, allowing the share price to rise from $7 to $7.80.

    Each of pSivida's US depositary shares represent 10 of the company's locally listed shares.


 
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