NYSE Arca, NYSE Euronext's fully electronic market for emerging issuers, today welcomed China Mass Media International Advertising Corp., a leading independent television advertising company. Beijing-based China Mass Media listed its American Depositary Shares on NYSE Arca under the ticker symbol "CMM" after its recent IPO in which it raised $50 million.
To celebrate the occasion, Mr. Shengcheng Wang, Chairman and CEO of Mass Media International Advertising Corp., and Mr. Eric Wang Lam Cheung, Chief Financial Officer of China Mass Media, rang The Opening BellSM joined by Duncan L. Niederauer, NYSE Euronext CEO.
"We are pleased to welcome China Mass Media to our family of Chinese listed companies," said Catherine R. Kinney, NYSE Euronext Group Executive Vice President and Head of Global Listings. "NYSE Euronext looks forward to providing China Mass Media and its shareholders with the highest levels of services and global brand visibility associated with listing on NYSE Euronext markets."
Mr. Shengcheng Wang, Chairman and CEO of Mass Media International Advertising Corp. said:
"We are very pleased to be the first Chinese television advertising company to be listed on NYSE Euronext. Our diligent and creative work and our extraordinary success in China 's advertising industry have permitted this good fortune. While our competitive strengths are the solid foundation for our development, with the help of capital markets, we will expand our reputation, improve our profitability, increase our market share and transform into a leading advertising company with a global vision.
China Mass Media provides sales and marketing services for the 2008 Beijing Olympics on CCTV Channel 1 and 2.
Background on NYSE Euronext-China:
* NYSE Euronext has 57 companies listed from Greater China. This includes 41 companies from Mainland China listed on the NYSE, 5 from Hong Kong on the NYSE, and 5 Taiwanese companies on the NYSE, as well as 4 companies listed on NYSE Arca, and 2 companies listed on NYSE Alternext.
* The People's Republic of China is one of the largest sources of listed companies from the Asia-Pacific region, which has a total of 108 companies representing 11 countries. The 57 companies from Greater China with a total market capitalization of more than $1.2 trillion represent 52% of the 108 NYSE-listed companies from Asia Pacific region.
* NYSE Euronext currently lists more than 100 companies from BRICs countries with a total combined global market capitalization of $2.2trillion.
Background about listing on NYSE Arca:
NYSE Euronext's multiple market platforms share similar attributes, providing superior trading quality over competitor models. In the NYSE Arca market model, listed issuers participate in the selection of a "Lead Market Maker" responsible for maintaining tight spreads and providing the opportunity for price improvement. NYSE Arca has captured a significant portion of trading in Nasdaq stocks by providing excellent market quality, as measured by its superior effective spreads and speed.
NYSE Arca listing standards extend the NYSE's focus on providing a listing and trading venue for quality companies.
• Emerging growth companies – both domestic as well as non-US companies - have the opportunity to list on NYSE Arca as an alternative listing venue, enabling NYSE Euronext to compete for smaller-sized companies that previously did not qualify.
• NYSE Arca is a globally recognized, fully electronic platform that trades well over one billion shares each day, and that is growing quickly.
• NYSE Arca-listed companies participate in the selection of a "Lead Market Maker" responsible for maintaining depth and quality of trading in the stock. The "Lead Market Maker" brokerage firm has quote and execution obligations and the responsibility for keeping tight spreads in the stock – resulting in the superior market quality that issues have come to expect.
• NYSE Arca's affiliation with NYSE, through their common parent NYSE Euronext, is attractive to companies considering a listing on NYSE Arca. These companies have the ability to choose their own lead market maker which provides additional liquidity in their shares. In addition, NYSE Arca listed companies have the opportunity, once they qualify, to seamlessly transfer to the NYSE without paying the initial listing fee. -- www.nyse.com
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