Jan 22 2010
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."
SOURCE Shandong Luoxin Pharmacy Stock Co., Ltd.