I think Solomon pretty much ruled out the Shanghai exchange, saying it takes several years from application to acceptance. Probably need to be a significantly larger company, as well.
The first step toward any foreign exchange listing is induction of independent Board members. These are expected to be nominated by the end of June.
I am hoping they will list the parent company in Sweden, before spinning any subsidiaries to an Asian exchange. I see no downside in this. I'd hope that the could put the wheels in motion as soon as possible. Just announcing the intention, even if it were scheduled for 2013 would be helpful.
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