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Qiao Xing Mobile Announces NY IPO

Chinese company Qiao Xing Universal Telephone has announced that its major subsidiary Qiao Xing Mobile Communication—a handset manufacturer in China—will offer an IPO of 13.3 million shares at $12 per share. The shares will trade on the New York Stock Exchange under the ticker “QXM”, with Qiao Xing Universal maintaining a majority stake. The proceeds of the IPO will be used to repay shareholder loans to its parent company, Xing, as well as to make loans or capital contributions to CECT for funding capacity expansion and purchase of equipment for its new manufacturing facility in Huizhou, Guangdong Province, China. There’s also scope for potential acquisitions

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May 4, 2007 - Posted by | Mobile games

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