Australia's Telix Pharmaceuticals jumps on potential US listing

(Reuters) -Shares of Australia's Telix Pharmaceuticals advanced on Friday after the oncology firm said that it was planning an initial public offering (IPO) in the United States and listing on the Nasdaq.

Telix rose as much as 4.1% to trade at A$9.92 per share, poised for its best day since Dec. 12 as at 0020 GMT.

The company, however, did not disclose the number of American Depositary Shares to be issued or a timeline for the listing.

"There can be no assurance as to the occurrence, timing, pricing and/or completion of such an offering or listing," the company said.

No final decision has been made in respect of the Nasdaq listing, the company added.

Higher interest rates caused by stubbornly elevated inflationary risks along with geopolitical tensions had dampened the sentiment for IPOs in 2023, although market participants expect a turnaround this year.

Ordinary shares of the Melbourne-based company, which has a market value of A$3.07 billion ($2.06 billion), will remain listed on the Australian Securities Exchange.

($1 = 1.4921 Australian dollars)

(Reporting by Archishma Iyer in Bengaluru; Editing by Sriraj Kalluvila and Rashmi Aich)