(CercleFinance.com) – Onxeo announced on Wednesday that it had received approval from the Nasdaq in Copenhagen for its Danish shares to be withdrawn from trading on the Nasdaq First North Growth market.
These securities will remain negotiable until November 8, at the end of which period they will be delisted and exchanged for French shares listed on Euronext Growth in Paris, indicates the biotechnology company.
It is expected that Danish shareholders will receive one French Onxeo share in exchange for each Danish Onxeo share they hold.
This dual listing mechanism has existed since the French BioAlliance Pharma merged in 2014 with the Danish company Topotarget to create Onxeo, a specialist in tumor DNA and the treatment of rare or resistant cancers.
The Onxeo share listed on the Paris Stock Exchange is currently progressing by 2.7% while that listed in Copenhagen has fallen by more than 8%.