a2 Milk Company approved for ASX listing

The a2 Milk Company Limited (a2MC) has gained in principal approval to list on the Australian stock exchange, subject to customary pre-quotation conditions.

The Auckland-based milk marketing company issued a statement which said it is not planning any capital raising as part of the ASX listing process.

According to AAP, a2MC plans keep its New Zealand incorporation and NZX listing.

The ASX has not yet confirmed the date on which the official listing will commence. However, a2MC expects to be able to soon make it public.

The company announced its intention to list on the ASX in November.

"With a significant part of our earnings and growth coming from Australia, seeking an ASX listing is a logical strategic move for the company," Geoffrey Babbage a2’s managing director said at the time.

"Listing on ASX will enable more Australian investors to participate in the company's growth and will increase the attractiveness and liquidity of its shares. The board believes that this will benefit all shareholders."

Earlier this year, Curtin University received funding from a2MC to conduct a pilot study into the digestive benefits of a2 milk, and found that subjects on a diet of a2 milk reported less bloating and abdominal pain than those consuming A1 milk.

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