FUJIAN, China--(BUSINESS WIRE)--China MediaExpress Holdings, Inc. (NYSE Amex: CCME) (“CME” or “Company”), China’s largest television advertising operator on inter-city and airport express buses, today announced that its common stock has been approved for listing on the NASDAQ Global Select Market.
Effective as of the close of trading on June 2, 2010, the Company’s common stock will cease trading on NYSE AMEX. Upon the opening of trading on June 3, 2010, the Company's shares will commence trading on NASDAQ Global Select Market, under the same ticker symbol "CCME".
Mr. Zheng Cheng, CME’s Founder and CEO, noted, “We believe that NASDAQ represents the best fit for our Company and our shareholders. NASDAQ's market maker structure should lead to increased liquidity, an expansion in our shareholder base and, ultimately, to increased shareholder value. In addition it will provide our investors with the best prices and the fastest execution. As the world's largest electronic stock market, NASDAQ promotes innovation and attracts leading growth companies from a diverse group of sectors. CME is one of the very few Chinese companies to qualify for the NASDAQ Global Select Market, which has the highest initial listing standards of any exchange in the world. Out of 136 China-based companies listed on NASDAQ, only 26 companies such as Baidu, CTrip.com International, Shanda Interactive Entertainment and NetEase.com, fulfill NASDAQ Global Select Market requirements. Within only seven months since CME became a public company in October 2009, we have qualified and are making the decision to move to the NASDAQ Global Select Market. This achievement is an important milestone for our Company and we look to the future with confidence.”
Long and Strong!