Norwegian biotechnology company Hofseth BioCare will start trading on the Oslo Bors beginning Monday, Dec. 14, the company announced.

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The decision came after the Oslo Stock Exchange approved Hofseth BioCare's application to transfer its listing from Euronext Expand -- previously Oslo Axess -- to the Oslo Bors exchange.

Consequently, the last day of trading of the company's shares on Euronext Expand will be Dec. 11.

The ticker and ISIN of the company's shares will remain unchanged.

In October Hofseth BioCare completed a NOK 200 million (€18.2 million/$21.3 million) private placement as it prepared to list on the Oslo Stock Exchange's main market.

The funds will be used for R&D activities, expanding production capacity, ramping up sales and marketing and other corporate purposes, the company said at the time. The sale involved 24,691,358 shares at an offer price of NOK 8.10 (€0.74/$0.86).