PRNewswire reported yesterday (13 August) that China Xiangtai Food Co., Ltd. (China Xiangtai Food) had announced that its ordinary shares are expected to commence trading on The Nasdaq Capital Market on August 14, 2019 under the ticker symbol “PLIN”.
An emerging growth company primarily engaged in pork processing in China, China Xiangtai Food had initially announced on 10 May 2019 that the closing of its initial public offering (“IPO”) of 1,172,360 ordinary shares at a price to the public of $5.00 per share for a total of $5,861,800 in gross proceeds before expenses, underwriting discount and commissions.
On that note, Zeshu Dai, Chairwoman of the Board and Chief Executive Officer, China Xiangtai Food, commented: “Our listing on the Nasdaq Capital Market is an important corporate milestone that reflects our commitment to our shareholders. We believe trading on the Nasdaq may greatly expand the pool of potential investors globally.”
“Following the progress our management team and Board have made in executing our strategic vision, we will aim to continue to advance our growth initiatives. We are grateful for all of the assistance provided by our employees and professional advisors in making our Nasdaq IPO happen and are excited to enter this next phase in our corporate evolution.”
The offering was sold on a best efforts basis. Boustead Securities, LLC acted as the sole underwriter for the offering. Ortoli Rosenstadt LLP acted as Company’s US securities counsel, and Sichenzia Ross Ference LLP acted as the counsel to Boustead Securities, LLC.
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