In the United Kingdom, bioplastics company Biome Technologies PLC announced on February 21 that it will remove itself from the AIM, a sub-market of the London Stock Exchange, due to costs and a need to raise equity.
According to Alliance News, Biome shares were down 62% following the announcement. A general meeting of shareholders has been scheduled for March 13 to approve the de-listing.
“The directors believe that raising significant equity through public markets is likely to be challenging in the short and medium term and potentially may not be at a valuation that is acceptable to shareholders,” Biome said.