21st Oct 2015 07:41
LONDON (Alliance News) - DJI Holdings PLC on Wednesday said it will obtain a secondary listing on the NASDAQ exchange in New York.
The Chinese sports and welfare lottery products company said a NASDAQ listing would bring enhanced market liquidity, which would in turn develop a stronger institutional shareholder base.
DJI hopes to complete the listing process during the first quarter of 2016.
"The board outlined at the end of 2014 that it wished to seek a secondary listing on a more liquid exchange and we believe that this process would have already been concluded had it not been for the temporary suspension of the sale of online lottery products in China. Now, with the first steps towards regulatory change already taken, DJI is progressing a secondary listing in order to focus fully in 2016 on the opportunities that we expect the new lottery landscape to present," Chief Executive Darren Mercer said in a statement.
Shares in DJI were trading up 2.3% at 44.00 pence early Wednesday.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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