The Board of Directors of China Taisan Technology Group Holding Limited (the ââ¬ÅCompanyââ¬Â or ââ¬ÅChina Taisanââ¬Â) is pleased to announce that the Companyââ¬â¢s application for the establishment of an ADR facility in the United States of America has been approved by the U.S. Securities and Exchange Commission and effected on 29 December 2009, New York time. Each China Taisan ADR represents 30 ordinary shares and trades in the US over-the-counter (ââ¬ÅOTCââ¬Â) market. Each ADR is issued by a US depositary bank and can represent a fraction of a share, a single share, or multiple shares of the foreign stock. For each China Taisan ADR that a US investor wishes to purchase, an equivalent of 30 China Taisan ordinary shares will be delivered to the investor by buying from the open market of the Singapore Stock Exchange. No new shares have been issued in the current exercise.
The stock has cheong-ed. Now up 3 cents! How can? The ADR process is very long, so dont expect US funds to buy the ADR tomorrow, hor. The stock looks cheap - after reading the article
www.nextinsight.net/content/view/1834/79/
NextInsight
a hub for serious investors
