NORTHEAST SECURITIES OKED TO COMPLETE BACKDOOR LISTING
AsiaInfo Services, July, 2007
AsiaInfo Services 07-27-2007 Northeast Securities OKed to Complete Backdoor Listing SHANGHAI, Jul 27, 2007 (SinoCast via COMTEX) -- Northeast Securities Co., Ltd., a second-tier stock brokerage firm in China, just got regulatory approval to complete its backdoor listing via the Liulu Industrial Co., Ltd.
of Jinzhou Economic & Technology Development Zone (Jinzhou Liulu, 000686, SZ). The listed company will repurchase all shares its current largest shareholder owned at first and all its assets and liabilities after deducting CNY 10 million cash are the consideration for this deal. Then Jinzhou Liu will wholly absorb Northeast Securities through a share swap. Each share of Jinzhou Liu is CNY 9.29 while the entire value of the securities firm is CNY 2.3...
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