France-based Implanet plans to transfer the listing of its shares from the Paris-based Euronext regulated market to the Alternext Paris multilateral trading facility.
Here are five key notes:
1. The switch would put Implanet shares on a market more appropriate for its size and offer a better regulatory framework, according to the company. The Alternext Paris market is suited to small and midcaps, which would better fit the company.
2. The transfer may also simplify the regulatory burden and reduce listing costs while continuing to provide financial market access.
3. The shareholders are expected to vote for approval at their May 5 meeting. The listing will be fast-tracked to admission if voted for approval.
4. Implanet does not plan to issue any new shares ahead of the transfer. If the transfer occurs, SwissLife Banque Privee will be the company's listing sponsor.
5. If the company does transfer shares to Alternext, a non-regulated market, the share's liquidity could change and the transfer could lead investors who prefer shares listed on a regulated market to divest. Implant plans to continue publishing reports on news that would have an impact on share price.