The American Stock Exchange listed the units of North Asia Investment Corp. under the ticker symbol NHR.U. The offering size is 5,000,000 units at $10.00 per unit for gross proceeds of $ 50,000,000 (excluding the underwriters’ over-allotment option).
Each unit consists of one share of common stock and one warrant. Initially, the units will be the only security trading. Citigroup Global Markets Inc. is the lead underwriter with EarlyBirdCapital, Inc., I-Bankers Securities, Inc., and Ladenburg Thalmann & Co. Inc. as co-mangers on the IPO.
Based in Seoul, Korea, North Asia Investment Corp. is a newly organized company formed for the purpose of acquiring, through a merger, share exchange, asset acquisition, plan of arrangement, recapitalization, reorganization or similar business combination, one or more operating businesses.
The Company’s efforts in identifying a prospective target business will not be limited to a particular industry or geographic location. They do initially intend to focus their search on target businesses that have their principal operations located in Asia with a particular emphasis on the Republic of Korea and the People’s Republic of China.
“We are pleased to welcome North Asia Investment Corp. to the American Stock Exchange,” said Neal Wolkoff, Chairman and CEO of Amex. “The Amex looks forward to supporting North Asia Investment as it seeks to convey its value proposition to a greater number of investors.” -- www.amex.com
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