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Botry Zen makes quiet entry on main board


Wednesday 20th November 2002

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Dunedin biotechnology company Botry Zen made a quiet entry on to the New Zealand Stock Exchange main board, its shares rising 1 cent from the start of trading to close at 14 cents.

Nearly 127,000 shares traded hands during the day, four times the daily volume when the stock was listed on the new capital market.

Forsyth Barr investment adviser Tom Bliss said there was some interest in the stock but its value was not helped by a reasonably large number of sellers.

Botry Zen has the world manufacturing and marketing rights to a biological control for the fruit-wasting botrytis fungus.

Company chairman Max Shepherd said he was comfortable with Botry Zen's position, saying it was poised to grow and expand.

Chief executive John Scandrett said the company would boost its profile and credibility as it sought business partners and markets around the world for Botry Zen.

The Dunedin manufacturing plant was working to get the product to Australia, the United States and Europe.

This is unlikely to be the last Dunedin biotechnology company to graduate from the unlisted to the main board.

Pharma Zen, which manufactures animal remedy products, has previously announced listing plans.

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