CBD Energy Ltd. (CBD), a Sydney-based developer of wind and solar power, plans to delist from the Australian Securities Exchange and expects to be listed on the Nasdaq Stock Market by January to improve its access to capital, the company’s chairman said.
CBD reported A$70 million ($62.4 million) in sales in the fiscal year ending June 30 and has a market value of A$4.7 million. Access to U.S. capital markets may make it easier to tap funding and boost revenue by 25 percent a year in its three key markets: the U.S., the U.K. and Australia and New Zealand, Gerry McGowan said today in an interview at Bloomberg’s headquarters in New York.
“We are hopeful we will be here late-December or early-January, starting to trade,” he said.
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