BEIJING, Sept. 1 /PRNewswire-Asia/ -- Yongye International, Inc. (OTC Bulletin Board: YGII), ("Yongye or "the Company") a leading developer and distributor of Shengmingsu brand plant and animal nutrient products in the People's Republic of China (PRC), today announced that the Company has received authorization to list its common stock on the NASDAQ Global Market.
Yongye expects to begin trading on the NASDAQ Global Market on Thursday, September 3, 2009, until which time its shares will continue to trade on the Over-the-Counter Bulletin Board. In connection with the move to NASDAQ, the stock trading symbol for Yongye will change to "YONG" from "YGII."
"We are very pleased to announce that our common stock will soon trade on NASDAQ, and we view this as a very significant step forward in our corporate development and evidence of our commitment to operating to the highest standards as a public company," commented Mr. Zishen Wu, Chief Executive Officer of Yongye International. "We are confident that by listing our shares on NASDAQ we will improve the marketability of our stock, achieve a stronger profile with the investment community and the media, and ultimately enhance our investor base, liquidity and shareholder value."
About Yongye International, Inc.
Yongye International, Inc., headquartered in Beijing, is engaged in the development, distribution and sales of Shengmingsu brand plant and animal nutrient products. The Company's patented and patent pending formulas and proprietary extraction processes allow it to create products that increase crop yields and improve the health of livestock. Its sole operating subsidiary, Inner Mongolia Yongye Nongfeng Biotechnology Co., Ltd., is headquartered in Beijing with administrative and sales offices located in Inner Mongolia, People's Republic of China. The Company sells its products through distributors located in ten provinces throughout China.
Safe Harbor Statement
This press release contains certain statements that may include "forward-looking statements." All statements other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involving known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including the risk factors discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on the SEC's website ( http://www.sec.gov ). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these risk factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.