China HGS Real Estate To List On NASDAQ
China HGS Real Estate (OTC:CAHS), a residential property developer in Hanzhong, China, has today said that it has received approval to list its common stock on the NASDAQ exchange.
China HGS will begin trading on the NASDAQ under the symbol "HGSH" on Monday, September 13, 2010. In the mean time, its shares will continue to trade on the Over-The-Counter Bulletin Board under the symbol "CAHS".
Since the news release, the company’s stock has not budged and was trading at $4.08 on the OTCBB as of 11:39 am ET on Thursday.
China HGS Real Estate, through its through its wholly-owned subsidiary, Shaanxi Guangsha Investment and Development Group, is engaged in the construction and sale of residential apartments, car parks, as well as commercial properties in China.
It also provides property management services to its properties’ residents. The company acquires development sites primarily through public land auctions by the Chinese government. For fiscal 2009, the company earned profits of $11.6 million on revenues of $28 million.
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