Thursday October 22,2015 : CHINESE LOTTERY DISTRIBUTOR GOING FOR A NASDAQ LISTING
DJI Holdings plc expects to be listed by Q1-2016.
DJI Holdings plc, a UK licensed promoter and distributor of Chinese sports and welfare lottery products, announced Wednesday that it is to obtain a secondary listing of its shares on the Nasdaq Exchange in the United States.
The company said in a statement that such a listing will deliver enhanced market liquidity and assist the group in developing a stronger institutional shareholder base.
“This is a benefit already enjoyed by DJI's sector peers on major international exchanges and one that the Board expects to be of great value to the Group,” the statement noted.
The timing of the decision is reinforced by the Chinese State Council's public announcement of 14 October regarding faster approval and administrative processes for operators, while allowing provincial lottery centres more flexibility in increasing pay-outs for their own games
The statement targets Q1-2016 for the Nasdaq listing.