Saturday, September 19, 2009

Vietnam first company lists on US exchange

Infrastructure developer Cavico Corp. has been approved for listing on the NASDAQ Capital Market Friday, becoming the first Vietnamese firm to list on a US national securities exchange.

Trading of Cavico's common stock commenced Friday under the ticker symbol CAVO, the company said in a statement.

"Following a comprehensive evaluation of all US exchanges, we determined that the NASDAQ Capital Market was the best fit for Cavico Corp," Ha Quang Bui, Chief Executive Officer of Cavico said in the statement. "The listing procedure was a rigorous process, specifically the due diligence conducted by NASDAQ. Cavico Corp. has met and will remain subject to all the NASDAQ listing requirements."

The NASDAQ Capital Market is the largest US equities exchange, with approximately 3,200 member companies.

Founded in 2000, Hanoi-based Cavico Corp. focuses on large infrastructure projects, including hydropower facilities, bridges, tunnels, roads, and mines.

Story from Thanh Nien News
Published: 19 September, 2009, 12:25:05 (GMT+7)

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