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LibertyOne Shareholders Approve Nasdaq Listing

Shareholders of Australian Internet content and solutions provider LibertyOne have voted in favour of the company's plans to list on Nasdaq.

The company plans to issue up to 100 million new shares to raise between AUS$75.8 million (US$50 million) and AUS$106 million (US$70 million) via a public offering of either ordinary shares or American depository receipts (ADRs).

Shareholders also approved LibertyOne's shares be consolidated at a ratio of 10 to 1. This will only be necessary if the company lists its ordinary shares on Nasdaq, as opposed to listing ADRs.