NICOSIA, CYPRUS / ACCESSWIRE / October 26, 2023 / Davion Healthcare Plc, a leading medical device manufacturer, is proud to announce that is has entered into an agreement with The Bank of New York Mellon a renowned financial institution, to launch an American depositary receipts programme (ADR). Additionally, as part of the ADR programme, Davion will be conducting an IPO fundraising round of $30 million U.S. dollars, (equivalent to 7.5% of the company's issued share capital) in preparation for the listing of its depositary receipts on the NASDAQ Stock Exchange.
The collaboration with BNY Mellon and an ADR programme is a significant milestone for Davion. The strategic relationship will enable the company to broaden its investor base, enhance global visibility, and pave the way for future opportunities. The ADR issuance will enable investors to easily invest in Davion through the U.S securities market, providing them with increased accessibility and liquidity.
"We are thrilled to be working with The Bank of New York Mellon on this exciting endeavour" said Jack Kaye Davion's CEO. "Their extensive experience and unrivalled expertise in managing ADR programmes makes them an ideal partner for us. We greatly value their contribution to our fundraising efforts and their commitment to our future success."
The $30 million IPO fundraising round represents a vital step towards achieving Davion's strategic goals. The funds raised will be allocated towards expanding operations, investing in product research and development, and also strengthening sales and marketing efforts internationally.
The successful completion of this fundraising round will position Davion one step closer to its anticipated listing on the prestigious NASDAQ Stock Exchange
"We are enthusiastic about the prospects of this fundraising round and subsequent listing" added the CEO. "This will not only fuel our growth but also provide an attractive investment opportunity for potential investors. We are confident that with the support of The Bank of New York Mellon and the robust ecosystem of the NASDAQ stock exchange, we will achieve meaningful milestones in the upcoming months."
Davion looks forward to a successful fundraising round and subsequent listing on the NASDAQ stock exchange, which it anticipates will (subject to market forces) take place in the first quarter of 2024. The company remains committed to delivering exceptional value to its shareholders whilst driving innovation within the medical sector.
THE DIRECTORS OF THE ISSUER ACCEPT RESPONSIBILITY FOR THE CONTENTS OF THIS ANNOUNCEMENT
Press inquiries please contact:
Davion Healthcare Plc
Munro Forbes - Media Relations Manager
E: munro.forbes@davionhealthcare.com
SOURCE: Davion Healthcare Plc
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