Idex Biometrics files for Nasdaq IPO with 75 to 1 share ratio for $15 offer price

Idex Biometrics files for Nasdaq IPO with 75 to 1 share ratio for $15 offer price

Idex Biometrics has filed its preliminary prospectus with the U.S. Securities and Exchange Commission (SEC) for an initial public offering on the Nasdaq exchange.

The company filed a registration statement with the SEC for a proposed listing of American Depository Shares (ADSs) last month.

An F1 filing from Idex Biometrics shows its intention to register 60 million ordinary shares at a proposed maximum offering price per unit of $0.20, for a proposed maximum aggregate offering price of $12 million. The ordinary shares would be represented by 800,000 ADSs, which would therefore have an offering price of $15.

The company expects its opening public price to ultimately be determined by reference to its most recent trading price on the Oslo Børs.

Idex shares on the Børs closed up slightly at NOK 1.87 (roughly US$0.21) each in Friday trading.

The ADSs will be traded under the symbol “IDBA.”

Idex reported major revenue gains relative to comparable periods in its Q3 2020 report, and recently announced two volume production orders for its biometric smart card technology.

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