Article: SOUTHWEST SECURITIES OK'D FOR BACKDOOR LISTING


AsiaInfo Services
11-24-2008
Southwest Securities Ok'd For Backdoor Listing

CHONGQING, Nov 24, 2008 (SinoCast Daily Business Beat via COMTEX) -- Chongqing-based Southwest Securities Co. on November 21 got approval from China Securities Regulatory Commission for its backdoor listing in the A-share market through Shanghai-listed Chongqing Changjiang River Water Transport Co., Ltd.

The shell company will sell 1.66 billion new shares to replace Southwest Securities's shareholders' total equity interests in the company. Upon the completion of the deal, total capital stock of the listed company will rise to 1.9 billion shares, of which former shareholders of Southwest Securities Co. will account ...

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