Australia's Benitec Biopharma falls to record low on move to redomicile to United States

Benitec Biopharma

27/11/2019 17:22

** U.S-listed shares of Australian biotech company  BNTC.O 
 BLT.AX  fall 17% to a record low of $5
    ** Company says it will redomicile to the United States from
Australia https://bit.ly/2sngTN3
    ** "Directors of Benitec are of the view that the advantages
(of the move) materially outweigh the disadvantages" - BNTC 
    ** Company says it is looking to cut costs, reorganize and
widen investor base through this move
    ** Stock has fallen 60% so far this year

 (Reporting by Nilanjana Basu in Bengaluru)