BrainChip hoses down delisting speculation

Perth-based tech firm BrainChip Holdings has poured cold water on speculation it is seeking to privatise operations, but did confirm it was considering floating on another market

In a statement today, BrainChip said recent media reports it was planning to privatise the business in Australia were speculative and inaccurate.

“The company can confirm that our advisers are not evaluating such a transaction,” it said.

“The company can further confirm that it is evaluating a possible scheme of arrangement whereby the company would provide for an exchange of shares that would be publicly traded on another market.

“No certainty exists regarding execution of such a scheme or exchange.”

BrainChip, which owns its neural computing technology, only began trading on the ASX in September 2015, after completing a reverse takeover of Perth-based company Aziana.

Shares in BrainChip were 5.2 per cent higher to 30 cents each at 12:30pm.