Published: September 03, 2010
ChinaNet Online Holdings to Begin Trading on the NASDAQ Global Market
BEIJING , Sept. 3 /PRNewswire-Asia-FirstCall/ -- ChinaNet Online Holdings,
Inc. ("ChinaNet", NYSE Amex: CNET), a leading full-service media development,
and internet technology company for small and medium-sized enterprises (SMEs)
in the People's Republic of China , today announced that its board of directors
has approved the decision to switch the listing of its common stock from NYSE
Amex to the NASDAQ Global Market and that it has been approved for such
listing. The Company currently expects that its stock will commence trading on
NASDAQ on September 14, 2010 and will continue to be listed under the ticker
symbol "CNET". The Company's common stock will continue to trade on the NYSE
Amex until the market close on September 13, 2010.
Announcing the listing transition, Mr. Handong Cheng, Chairman and CEO of
the Company, said, "Given ChinaNet's continued success and ongoing
opportunities, moving to the electronic market model will broaden our
visibility to investors. We believe that NASDAQ's market maker structure will
also provide our company increased trading liquidity, while at the same time
providing investors with the best prices and the fastest execution."
About ChinaNet Online Holdings, Inc.
The Company, a parent company of ChinaNet Online Media Group Ltd.,
incorporated in the BVI ("ChinaNet"), is a leading full-service media
development, and internet technology company providing online advertising and
brand management solutions for small and medium-sized enterprises (SMEs) in
China. The Company, through certain contractual arrangements with operating
companies in the PRC, provides Internet advertising and other services for
Chinese SMEs via its portal website 28.com, TV commercials and program
production via China-Net TV, and in-house LCD advertising on banking kiosks
targeting Chinese banking patrons. Website: http://www.chinanet-online.com .
Safe Harbor
This release contains certain "forward-looking statements" relating to the
business of ChinaNet Online Holdings, Inc., which can be identified by the use
of forward-looking terminology such as "believes," "expects," "anticipates,"
"estimates" or similar expressions. Such forward-looking statements involve
known and unknown risks and uncertainties, including business uncertainties
relating to government regulation of our industry, market demand, reliance on
key personnel, future capital requirements, competition in general and other
factors that may cause actual results to be materially different from those
described herein as anticipated, believed, estimated or expected. Certain of
these risks and uncertainties are or will be described in greater detail in
our filings with the Securities and Exchange Commission. These forward-looking
statements are based on ChinaNet's current expectations and beliefs concerning
future developments and their potential effects on the company. There can be
no assurance that future developments affecting ChinaNet will be those
anticipated by ChinaNet. These forward-looking statements involve a number of
risks, uncertainties (some of which are beyond the control of the Company) or
other assumptions that may cause actual results or performance to be
materially different from those expressed or implied by such forward-looking
statements. ChinaNet undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise, except as may be required under applicable securities
laws.
For further information, please contact:
HC International, Inc.
Ted Haberfield, Executive VP
Tel: +1-760-755-2716
Email: thaberfield@hcinternational.net
SOURCE ChinaNet Online Holdings, Inc.
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