Bidding for Bionomics

Rather than sell its stake in Bionomics Ltd. on the open market and drive down the share price in the process, Start-up Australia Ventures has begun a public tender process to sell its 28% stake in neurology and cancer play as a single block of shares.

The hope is that the process will result in a higher price for the seller, said William Kridel of Ferghana Partners, which is managing the sale...