Uppsala, March 4, 2019. Biotechnology company Biovica announces today that Nasdaq has approved the company’s application to move from Nasdaq First North to be listed on Nasdaq First North Premier. The transition is an important part of the ambition to be listed on the stock exchange’s main list. The trading of Biovica’s share on Nasdaq First North Premier begins on Monday the 4th of March 2019.
Nasdaq First North Premier gives companies the opportunity to prepare for listing on the stock exchange’s main list by imposing higher demands on information disclosure, accounting principles and corporate governance. The requirements for being listed on First North Premier generally correspond to the regulations that apply on Nasdaq's main list, which is a regulated marketplace. Since the financial year 2017/2018, Biovica reports according to the International Financial Reporting Standards IFRS, a requirement for companies listed on First North Premier.
“When we were listed on Nasdaq First North in March 2017, we had an ambitious development plan that we have delivered according to and we are approaching the commercialization of DiviTum®. In the plan, there have also been thoughts of eventually listing the company on the stock exchange’s main list and listing on Nasdaq First North Premier is a first step in that direction. The move to First North Premier is an important quality mark that opens up for more institutional investors to invest in the company”, says Anders Rylander, CEO of Biovica.
Biovica's shareholders do not need to take any action in connection with the listing on First North Premier. The share will be traded under the same short name and ISIN code as before, BIOVIC-B and SE0008613731, respectively.