Benitec Biopharma up 87% on potential U.S. domicile

Ultra-thinly traded nano cap Benitec Biopharma Ltd. (BNTC +87%) rockets up on a healthy 40x surge in volume, albeit on turnover of only 884K shares, in apparent reaction to its disclosure that it may re-domicile from Australia to the U.S.

The Supreme Court of Queensland has ordered the company to convene a meeting of shareholders on Thursday, March 26, to approve an arrangement whereby a newly formed U.S. corporation will become the parent company of the Benitec group. If implemented, Benitec shareholders will receive 1 common share of the U.S. parent company for every 300 Bentic shares owned.

https://seekingalpha.com/news/3539741-benitec-biopharma-up-87-on-potential-u-s-domicile