CHINA - Sino Agro Foods has now been approved to trade its common shares on the Oslo Bors' Merkur Market.
Trading is expected to commence on January 13, 2016 under the symbol "SIAF-ME," subject to satisfaction of conditions for admission to trading. The Company's common shares will continue to trade on the OTCQB under the symbol "SIAF."
The decision reflects the Company's desire for its shares to be listed on the world's leading aquaculture listing venue and to provide its European shareholder base with a more suitable platform for trading.
No new shares are to be issued in connection with the admission to trading. Current shareholders will be able to convert their shares traded on the OTCQB in the US to shares traded on the Merkur Market through their account operator.
The ISIN and CUSIP codes will remain the same. Shares on the Oslo Bors' Merkur Market will be traded and settled in Norwegian Krone ("NOK").
In conjunction with the admission to trading on the Merkur Market, Swedbank Norway acts as the financial advisor to the Company and Wikborg-Rein & Co. Advokatfirma DA as the Norwegian legal advisor.
The approval for admission to trading is subject to the Company, prior to the first day of trading, completing the registration of its share capital in the Norwegian Central Securities Depositary with a minimum of 10% of its common shares so registered distributed among the general public.
The Company must also publish an approved admission document before the first day of trading. The admission document will be available on the Company's website http://sinoagrofood.com and on Swedbank's website at http://www.swedbank.no on January 13, 2016.
SIAF CEO Solomon Lee commented: "Our goal is to facilitate access to Sino Agro Food for additional European investors who seek exposure to the growing Chinese seafood and protein food sector. This admission to trading raises Sino Agro Food's profile to European institutions, and provides a more accessible trading venue for our substantial Nordic shareholder base. We also look forward to welcoming many new shareholders, as Norway hosts the world's largest financial seafood cluster.
"In light of our strategic focus to streamline the Company and to list aquaculture assets on Oslo Bors, we believe that the Oslo Bors' Merkur Market is the most suitable venue for Sino Agro Food, Inc."
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