FOR IMMEDIATE RELEASE
Genesis IPO Closes After Strong Support on
Both Sides of Tasman
AUCKLAND, New Zealand – 14 September 2000 – Leading New Zealand biotechnology company, Genesis Research and Development
Corporation Limited, confirmed that its NZ$34.5 million initial public share offer closed today.
Genesis offered 5,750,000 shares at a price of NZ$6.00 and enjoyed very strong support from retail and institutional
investors in both New Zealand and Australia. The company was particularly pleased with the high level of interest from
large Australian institutional investors.
Shareholder statements will be mailed on Tuesday, 19 September.
Trading on both the New Zealand Stock Exchange (NZSE) and the Australian Stock Exchange (ASX) will commence on Friday,
22 September under the code GEN.
The offer was managed by UBS Warburg New Zealand Limited and the organising broker was UBS Warburg New Zealand Equities
Limited.
Most of the money raised by the offer will be applied to Genesis’ research and development activities. These include
clinical development of immune therapies for psoriasis and asthma, expansion into eczema, the development of Genesis’
forestry genomic platform in a relatively new venture with ArborGen LLC and building new databases and technology to
secure a foundation in agriculture and horticulture.
About Genesis
Genesis is a biotechnology company based in Auckland, New Zealand, with genomic programmes in human health, forestry and
agriculture. Genesis builds EST databases that provide the genomic platform for discovery of novel genes with commercial
value and has considerable experience and expertise in high-throughput DNA sequencing, functional genomics and
development of therapeutics. Partnerships with biopharmaceutical, agricultural, horticultural and forestry companies
have been important for funding research to effectively develop potential products. In addition to the extensive
forestry gene technology, Genesis has a psoriasis therapeutic, PVAC™, in FDA-approved Phase II clinical trials in
partnership with the US-based Corixa Corporation, and a Phase I clinical trial for an asthma therapeutic has been
initiated in Wellington, New Zealand.
Application has been made to the New Zealand Stock Exchange for permission to quote the shares and for the listing of
Genesis Research and Development Corporation Limited. All the requirements of the NZSE in respect of such quotation and
listing that can be complied with on or before the date of the publication of this announcement have been duly complied
with. However, the NZSE accepts no responsibility for any statement in this announcement.
ENDS
For further information, please contact:
James Watson,
Founder and CEO,
Genesis Research & Development Corporation
Tel: +64 9 373 5600
j.watson@genesis.co.nz Andy Coupe
Executive Director
UBS Warburg New Zealand Limited
Tel: +64 9 913 4878
andy.coupe@ubsw.com Allan Botica
Botica Conroy & Associates
Tel: +64 21 400 5000
allanb@bca.co.nz