First Chinese Company to trade on OTCQX Platform
HONG KONG, Jan. 22 /PRNewswire-Asia/ -- Shandong Luoxin Pharmacy Stock Co., Ltd. ("Luoxin Pharma" or the "Company", HKEx: 8058; OTCQX: SLUXY), one of the leading PRC pharmaceutical enterprises, announced that a sponsored, American Depositary Receipt ("ADR") facility has been established with The Bank of New York Mellon. Trading of the ADRs has commenced on 21 January, 2010 EST on the U.S. OTC market's highest tier, OTCQX International, under the symbol SLUXY. The OTCQX International is a highly visible, robust and prestigious equity market in the United States, and is a premier cross-listing venue for international issuers. Viriathus Capital LLC is serving as Luoxin Pharma's exclusive OTCQX Advisor.
Each Luoxin Pharma ADR represents 10 ordinary shares. Luoxin Pharma's ordinary shares trade on the GEM Board of the Hong Kong Stock Exchange under the stock code "8058." In connection with the establishment of the ADR facility, the Company has filed a registration statement covering 50,000,000 ADRs under the ADR facility with the U.S. Securities and Exchange Commission. The establishment of the ADR facility by the Company is not a new offering of shares and the ADRs are based on the shares of the Company currently on issue.
Mr. Liu Baoqi, Chairman of Luoxin Pharma commented, "Our OTCQX listing provides Luoxin with local access to the largest capital market in the world, which will enhance the Company's corporate image and broaden our shareholder base globally. We take great pride in joining the esteemed group of international companies already trading on OTCQX as the first member coming from China and look forward to the increased investor awareness, information availability and trading visibility this new market tier offers."
Mr. Liu concluded, "December 2009 marks Luoxin Pharma's fourth anniversary of listing in Hong Kong and we regard the establishment of an ADR traded on the OTCQX as another important milestone of the Company's corporate development. Looking forward, with our committed business strategies, Luoxin Pharma will continue to capitalize on the opportunities arising from the consolidation of the pharmaceutical industry and strive to maximize returns for the shareholders."
"Viriathus Capital is very pleased to sponsor Luoxin Pharma and to serve as their exclusive OTCQX Advisor," said David Batista, senior managing director of Viriathus. "With the proven track record of success our unique blend of investment banking, equity research and financial marketing services has in elevating the profile of our client companies, Viriathus is uniquely positioned to help raise this exciting company's profile amongst U.S. investors."
About Shandong Luoxin Pharmacy Stock Co., Ltd.
Luoxin Pharma has been listed on the GEM of the Stock Exchange of Hong Kong Limited since 9 December 2005. The Company was recognized as one of the "Top Ten Pharmaceutical Enterprises with Growth Potential" for two consecutive years since 2006, and named one of the Top 100 Enterprises in the Pharmaceutical Industry in China. The Company is principally engaged in the development, manufacturing and sale of different types of prescription and OTC (over-the-counter) medicines in 4 major categories: (1) antibiotics, including Cephalosporines antibiotics, Quinolones antibiotics and Macrolides antibiotics; (2) anti-viral medicines; (3) system-specific medicines, including digestive system medicines, cardiovascular system medicines and respiratory system medicines; (4) other chemical medicines, including Antineoplastic medicines. The Company's production facilities are located in the High and New Technology Experimental Zone, Linyi, Shandong Province, the PRC, and has obtained all required production permits as well as GMP certification. Its sales and marketing networks cover 27 provinces and 4 municipalities in the PRC. For more information, please visit the Company's website at http://www.luoxin.cn .
For further information, please contact:
Ms. Helen Chung
Tel: +852-3150-6730
helen.chung@pordafinance.com.hk
Ms. Kelly Fung
Tel: +852-3150-6763
kelly.fung@pordafinance.com.hk
Fax: +852-3150-6728
