Jan 21 2010
Pink OTC Markets Inc. (Pink Sheets: PINK), the leading electronic inter-dealer quotation system, trading technology and financial information provider for Over-the-Counter (OTC) securities, today announced that Shandong Luoxin Pharmacy Stock Co., Ltd. (OTCQX: SLUXY, Hong Kong: 8058), a leading Chinese pharmaceutical company, has chosen to list its American Depositary Receipts (ADRs) on OTCQX®.
Shandong Luoxin Pharma's ADRs began trading today on the OTC market's prestigious tier, OTCQX International. Investors can find current financial disclosure and real-time Level 2 quotes for the company on www.otcqx.com and www.pinksheets.com.
"We are pleased to welcome Shandong Luoxin Pharma to OTCQX," said R. Cromwell Coulson, President and CEO of Pink OTC Markets. "OTCQX provides Shandong Luoxin Pharma with the highest level of visibility and access to U.S. investors possible in the OTC Market."
The Bank of New York Mellon Corp., which acts as Depositary for Shandong Luoxin Pharma's ADR program, will serve as Shandong Luoxin Pharma's Principal American Liaison ("PAL") on OTCQX, responsible for providing guidance on listing requirements. Viriathus Capital LLC will serve as the Company's dedicated OTCQX Advisor.
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."
SOURCE Pink OTC Markets