Fluorotechnics Raises $24 Million in IPO
As of November 14, the company’s stock price remained at AUD$1. Fluorotechnics used AUD$3.4 million ($2.2 million) of the money raised through the IPO to complete its purchase of the Gel Company (see IBO 9/15/08). (For Fluorotechnics’ latest financials, see page 12.)
Sydney, Australia 10/14/08 and 10/30/08—Fluorotechnics, a manufacturer of fluorescence and electrophoresis consumables and tools, raised AUD$7.6 million ($4.9 million) in its IPO (see IBO 9/15/08). The company listed shares on the Australian Stock Exchange on October 31 at a price of AUD$1 ($0.68) per share for a market capitalization of nearly AUD$25 million ($16.9 million).
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