Aroa shares double on ASX debut

Fri, 24 Jul 2020

Shares in Kiwi bio-tech company Aroa Biosurgery doubled when they commenced trading on the Australian Securities Exchange today. The shares surged to as much as A$1.56 and were recently at A$1.345. The listing follows an initial public offering, comprising 40 million new shares at 75 Australian cents and 20 million shares sold down by early investors, which valued the company at A$225 million. Auckland-based Aroa said its A$45 million IPO received solid support from institutional investors and a “strong vote of confidence” from existin...

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