Carlton Companies, Inc. (fka CTNO)

[bama4me]

CGGP News listed again.


Xinwei Telecom Technology to Backdoor Listing
BEIJING, Mar 21, 2008 (SinoCast via COMTEX) --

Beijing-based wireless communications developer Xinwei Telecom Technology may look for backdoor listing on the Pink Sheet market in the US, citing a report.


The company planned to get listed on the Shenzhen Stock Exchange one year ago, but has not got the regulators' approval by far. And now, they will possibly be acquired by a company listed in the US.

Clayton Dunning Group Inc. (PINK: CGGP), a global corporate financial advisor, is said to be the most possible target.

A Xinwei Telecom Technology executive says that his company has been seeking a US-listed company, which has enough floating shares with satisfying liquidity but does not have liabilities, and its consultants thought Clayton Dunning Group can meet its request, according to the report.

Besides, it said that the company would announce the to-be-acquired plan in the several weeks and strive to complete the transaction in May 2008, when the acquirer will hold a 15% to 20% stake in the integrated company.

From 123-4.com, Page 1, Thursday, March 20, 2008
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