Chinese Infrastructure Investment Corp Joins NASDAQ
In an exciting new step that was no doubt inevitable, CIIV (China Infrastructure Investment Corporation) began trading on the NASDAQ National Capital Market on August 12. Their chosen new symbol is “CIIC” – something that is easy to spot and easy to interpret.
As an emerging infrastructure development company, the China Infrastructure Investment Corporation was growing and moving towards NASDAQ trading for some time already. The company was incorporated in Nevada, USA and has since had its headquarters established in the Henan Province of China. The company’s main focuses are: constructing, operating, investing and managing infrastructure development projects on a local scale.
The organization operates in the People’s Republic of China, though from the sounds of things it is hoping to expand its operations somewhat in the near future. According to Mr Li Xipeng, the company’s chairman and chief executive officer, the China Infrastructure Investment Corporation “will partner with strategic investors to develop and acquire more expressways and other infrastructure projects” by using the NASDAQ Stock Market as a channel through which these sorts of liaisons can be made. Mr Zhang Cunxian, the CIIC’s chief financial officer, also noted that the company believed that the NASDAQ listing would help to “maximize shareholder values in the long-run and bring more transparency” to shareholders. He added that he felt that the step would continue to strengthen the company’s corporate governance and enhance its communication with both investors and shareholders. Xipeng also said: “With its rapid economic growth, China continues to invest heavily in country’s infrastructure and welcomes investors from overseas to participate.” Clearly the road to the future will be paved with many successful mergers. The China Infrastructure Investment Company has already been responsible for the development and operation of the 106 km dual carriageway four-lane toll road, known as the Pinglin Expressway – something they were very successful in.
Since their work with the Pingling Expressway, the company has been looking for ways to expand their acquisitions and development opportunities, having mainly investigated electricity, bio-fuel facilities and water supplies, amongst other things. It doesn’t take a stock exchange expert to see that CIIC will make an excellent addition to NASDAQ listings as the company clearly has a bright future ahead of it.