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Powerhouse Ventures Plans Australian Stock Exchange Listing
- Published February 19, 2016 2:57PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
19th February 2016, stuff.co.nz by Susan Edmunds
A company that develops ideas into commercial successes is set to list on the Australian stock exchange.
Christchurch-based Powerhouse Ventures invests in intellectual property and technology, shaping concepts into businesses that can compete on a global scale. The intellectual property is mostly sourced from New Zealand’s universities.
Among Powerhouse’s portfolio are Fluent, software that detects emotions by tracking micro-expressions, Avalia immunotherapy, which develops platform technology to design cancer treatments and HydroWorks, which makes turbines for electricity generation. It now has more than 50 staff and multimillion-dollar turnover.
Powerhouse chairman Kerry McDonald said the board had appointed Australian stockbrokers to help with the planned ASX initial public offering (IPO) which is scheduled for the second quarter of 2016, subject to market conditions.
“This is an exciting and important step in Powerhouse’s continued development. We already have a strong and very supportive shareholder base in New Zealand.
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