CHINA: China XD Plastics approved for Nasdaq listing
China XD Plastics, the largest Chinese manufacturer in the development, manufacture, and distribution of modified plastics primarily for use in automotive applications in China, has announced it has been approved to list its common stock on the Nasdaq Global Market.
China XD Plastics expects its shares to begin trading on the Nasdaq on November 27, 2009, until which time its common stocks will continue to trade on the Over the Counter Bulletin Board. The trading symbol for China XD Plastics will remain "CXDC".
"We are delighted to join the Nasdaq Global Market and be part of a select group that includes some of the world's most distinguished companies," said Mr Jie Han, the Chairman and CEO of China XD Plastics.
"This is an important milestone for our business which will contribute to increasing our visibility in the global financial markets and provide us with access to capital to grow our business and deliver lasting value to our shareholders."