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Ocean Power Technologies - tax benefits lost

Author: IC | Posted:25 April 2007 @ 09:31
Ocean Power Technologies the wave power company has announced the pricing of its US initial public offering at $20.00 per share. The Company’s shares will begin trading on the Nasdaq Global Market today under the symbol OPTT.

The Company also stated that it plans to continue to list its common stock on AIM. However, as the shares are now listed on a regulated market I assume that any potential inheritance tax benefits previously enjoyed by UK shareholders (or their estates) will now be lost.

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