AutoChina International Ltd
AutoChina International Limited is a leading one-stop commercial auto financing and sales company in China.
See more information about AutoChina International Ltd
Autochina approved for Nasdaq listing
AutoChina International Limited (OTCBB: AUCLF, AUCWF, AUCUF) announced that it has received approval to list its common stock, warrants, and units on the NASDAQ Capital Market.
The securities are expected to commence trading on NASDAQ on October 5, 2009, under the symbols 'AUTC' (common stock), 'AUTCW' (warrants), and 'AUTCU' (units).
Prior to its move to the NASDAQ, the Company has been trading on the OTC Bulletin Board under the symbols AUCLF, AUCWF, and AUCUF.
AutoChina CEO Yong Hui Li commented on the important milestone for the company: "We believe that trading on NASDAQ will lead to increased improved liquidity, an expansion in our shareholder base and, ultimately, to increased shareholder value. We look forward to our future with confidence."
Last month the Chinese commercial vehicle sales and leasing company's released strong interims, with a 47.7 percent increase in group sales compared to the first half of 2008. Similarly, comparative earnings jumped 78 percent to almost US$13 million against the same period last year.
The strong financial data from first half trading comes at the end of a significant 6 month period in which AutoChina became a public company and sold a strategic business unit. At the turn of the year AutoChina sold its auto dealership business to focus on the commercial vehicle sector which AutoChina anticipate will experience rapid growth in mainland China.
