SHANGHAI, China, July 18 /Xinhua-PRNewswire-FirstCall/ -- China-Biotics, Inc. (OTC Bulletin Board: CHBT) ("China-Biotics," "the Company"), a leading Chinese firm specializing in the manufacture, research, development, marketing and distribution of probiotics products, today announced it has applied for listing approval on the Nasdaq Global Market ("Nasdaq").
"This is an important milestone for China-Biotics, and we are committed to working with Nasdaq to fulfill all of its listing requirements," said Mr. Jinan Song, China-Biotics' Chairman and Chief Executive Officer. "Nasdaq is a prestigious senior exchange that is well suited for high-technology and high-growth companies such as China-Biotics that meet its stringent listing requirements. Nasdaq's complement of small-cap, rapidly growing companies will increase our visibility among investors who follow companies like ours, improving trading volume and liquidity. This should, in turn, attract new investors to our Company."
China-Biotics believes it satisfies all of the listing qualifications associated with this application. The application is subject to review by Nasdaq's Listing Qualifications Department for compliance with all Nasdaq Global Market requirements. The Company's common stock will continue to trade on the OTC Bulletin Board under its current symbol, CHBT, until the Company is notified of its acceptance. We hope to receive approval to list on Nasdaq within two to three months.
About China-Biotics, Inc.
Headquartered in Shanghai, China-Biotics, Inc. ("China-Biotics", "the
Company") was founded in 1999 and is one of China's largest suppliers of
probiotics. Probiotics are beneficial live bacteria used as dietary
supplements and food additives to improve intestinal health and digestion.
The Company's product portfolio contains live microbials made with
proprietary technology. Currently, these products are sold over-the-counter
under the "Shining" brand through large distr
|SOURCE China-Biotics, Inc.|
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