Pacific Dunlop looks for Australian $125 million in Cochlear float:
This article was originally published in Clinica
Executive Summary
Pacific Dunlop (Australia) is expecting to reap around Aus$125 million ($96.2 million) from the flotation of its Cochlear subsidiary. The implant manufacturer is being floated out of Nucleus, Pacific Dunlop's medical equipment group which also owns Telectronic Pacing Systems. Pacific claims Cochlear controls some 85% of the world market for cochlear implants. The company will issue 50 million shares, the final share price of which will be announced on December 4th. Cochlear forecasts after-tax profits of Aus$10.4 million for the year to June 30th, 1996, on revenues of Aus$63.3 million.