Synchronica's shares resume trading

8th Jul 2011 09:53

Mobile phone messaging provider Synchronica's shares resumed trading on Friday, after the company published the necessary admission document related to its proposed acquisition of Nokia's operator branded messaging business. Synchronica's shares advanced 3.6% in early morning trade in London.The deal, announced last week by Synchronica, is considered to be a reverse takeover transaction and in accordance with AIM Rules, the company's shares would be suspended pending the release of the admission document, which will include information on the acting company and on the proposed acquisition, placing and re-admission.The value of the deal was $25m and would give Synchronica access to the lucrative North American market.AR