QT Vascular launches IPO at 28 cents each for Catalist listing

QT Vascular has launched its initial public offering (IPO) for a Catalist listing with an offer of 196.4 million shares at 28 cents each.

However, the investing public will not be able their hands on them the offering is by way of placement only.

The net proceeds from the IPO, estimated at $50.3 million, are earmarked for the following:

* $5 million for commercial expansion, which includes marketing activities, expenses incurred in entering into further supplier and distributorship agreements;