(MENAFN- ProactiveInvestors - Australia) Universal Biosensors (ASX: UBI) has been granted a trading halt this morning by the ASX pending the outcome of the institutional component of a capital raising, with the company's shares placed in pre-open.
Universal Biosensors has not yet elaborated where the new funds will be allocated, but the company is targeting the $15 billion growing Point of Care Testing market with its diagnostic technology.
A plus for the company's devises are that they are low in cost to manufacture, with broad applications across analytes (enzymes immunoassay molecular), geographies (mature & emerging markets) and diagnostic settings (hospital, clinic, physician's office, home).
The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Monday 26th November 2012.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.