Here’s why Mesoblast (ASX:MSB) has suspended trading today

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Here’s why Mesoblast (ASX:MSB) has suspended trading today

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 Here’s why Mesoblast (ASX:MSB) has suspended trading today
Image source: © Akesin | Megapixl.com

Highlights: 

  • Mesoblast is likely to come up with a major announcement related to capital raising on 10 August. 
  • Until then, the company prefers to keep its shares suspended from trading on the ASX. 

Australian biotechnology company Mesoblast Limited (ASX:MSB) has requested ASX for a ‘voluntary’ suspension of trading of its fully paid ordinary shares on the ASX. The company has sought some more time to complete the capital raising. 

Mesoblast believes that the ‘voluntary’ suspension of trading on the ASX will allow the company some more time to complete its capital raising process. As stated in a previous announcement, the company’s shares would begin trading after the capital raising announcement is released. 

The company prefers to keep its trading suspended on the ASX until it releases an official announcement stating the outcome of the capital raising. The announcement is expected to come out on 10 August 2022. As a result, Mesoblast is expected to begin trading on the ASX from Wednesday onwards (10 August). However, the company did not reveal any prior information related to the capital raising as of yet. 

Meanwhile, Mesoblast shares traded last at AU$0.930 per share.

About Mesoblast: 

Headquartered in Melbourne, Australia, Mesoblast is a drug developer dealing with adult stem cell technology. The company holds a market capitalisation of AU$604.92 million. 

Mesoblast’s share price performance on the ASX: 

Over the last one year, Mesoblast’s share price has declined significantly by almost 52% on the ASX. On year-to-date basis, the share price declined by 33.57%. Within the period of last six months, Mesoblast’s share price fell almost by 20% on the ASX. On the contrary, the company’s share price gained by 12.05% on the ASX in the last one month (As of 3 August 2022).

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