EastBridge Investment Group, Inc. (OTCBB: EBIG), a provider of financial services to emerging public companies in Asia, with clients similar to companies like Chinacast Education Corporation (Nasdaq: CAST) and China Education Alliance, Inc. (NYSE: CEU), recently provided an update on its client Tsingda’s initial public offering (IPO) process during a recent conference.
During the conference call, the company indicated that Tsingda was still likely to IPO in November and definitely before the end of 2011. The NASDAQ now requires that Chinese companies list on a junior exchange for six months before up-listing to its exchange. However, the firm was recently informed that the OTCQX has the same limitations, meaning it will have to list on the OTCQB instead.
Ultimately, the listing on the OTCQB – one notch below the OTCQX designation – is rather inconsequential. Tsingda will not be raising any money until it reaches the NASDAQ exchange and that up-listing is still expected to occur six months after the OTC listing. Meanwhile, the shares being issued as a dividend to EastBridge shareholders remain unaffected by the move.
About EastBridge Investment Group
EastBridge Investment Group focuses on high-growth companies in Asia, offering IPOs, Joint Ventures and Merchant Banking services. The Company targets industries in the education, internet, energy, mining and service sectors. To learn more about EastBridge Investment Group go to our web site: www.EbigCorp.com. To receive EBIG’s email alert, send a blank email to info@EbigCorp.com. Join us on Facebook at the following link: http://www.facebook.com/ebigcorp.
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