VNStockNews.com - Cavico Corp., a leading infrastructure construction company in Vietnam, today announced that it has filed an application to list its common stock on the NASDAQ Capital Market.
Upon approval, Cavico will become the first Vietnamese company to list on a U.S. national securities exchange. Cavico’s listing application is subject to review and approval by NASDAQ’s Listing Qualifications Department for compliance with all NASDAQ Capital Market standards. The Company believes it currently meets NASDAQ’s eligibility requirements with the exception of a minimum bid price of $4.00. However, Cavico’s shareholders recently approved a reverse stock split of the Company’s common stock, which will assist Cavico in meeting the minimum stock price requirement. The Company is working diligently with NASDAQ to complete the application process. Cavico’s common stock will continue to trade on the OTC Bulletin Board under its current symbol, CVIC, until NASDAQ approves the Company’s application.
The listing application to NASDAQ was first disclosed in the Company’s registration statement on Form S-1. This registration statement for a secondary offering was filed on May 22, 2009 but has not yet been declared effective by the Securities and Exchange Commission. Copies of the registration statement and other documents filed with the SEC by Cavico may be obtained through the web site maintained by the SEC at www.sec.gov.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any state in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
AI
