Schering ready to list on NYSE (New York Stock Exchange):
This article was originally published in Clinica
Schering AG has registered for a listing on the New York Stock Exchange, starting October 12. The German diagnostics and pharmaceutical company is not raising any new capital from the listing, which consists only of the issue of American Depository Receipts (ADRs) representing ordinary shares. Giuseppe Vita, company's chairman, said the move would enable it to introduce a share option scheme for its US employees. It will also provide Schering with a "potential acquisition currency for external growth", he said.