Shares of Brainchip Holdings Ltd (ASX: BRN) are flying almost 9% higher today after the stock emerged from a trading halt this morning.
Brainchip requested its shares be placed in a trading halt on Monday morning pending an announcement regarding an article that appeared in yesterday's The Australian Financial Review. The article suggested that the neural computing technology company was looking to take its company private, only to then re-list its shares in the US market.
Instead of waiting until Wednesday to make the announcement, Brainchip responded to the article today by saying those claims made were both "speculative and inaccurate".
That said, it appears Brainchip may still look to list its shares on an international exchange, while perhaps keeping its shares listed in Australia as well. The company confirmed that it had appointed Pillsbury Winthrop Shaw Pittman as well as Allen & Overy to advise its board of directors, stating that "it is evaluating a possible scheme of arrangement whereby the Company would provide for an exchange of shares that would be publicly traded on another market."
Brainchip's shares have had a rollercoaster run over the past 12 months. Although they did sink as low as 10.5 cents in September, they have since bounced back and are now trading at 31 cents, just shy of their 52-week high of 32.5 cents. Although it remains a speculative bet, Brainchip could be worth watching over the coming periods.
In the meantime, investors may want to focus on other tech businesses, including as Altium Limited (ASX: ALU), which are less speculative investment opportunities today.
