Yangtze River Development Limited (OTCQX: YERR) is engaged as a Chinese real estate and infrastructure development company. Shares of the Chinese company are rallying 20.85%, through afternoon trading on Tuesday, April 18, 2017. Over the past month, Yangtze River Development Limited has seen average daily volume of 24,696 shares. However, volume of 16,600 shares or dollar volume of $94,288, has already exchanged hands on Tuesday.
Shares of Yangtze River Development Limited are climbing today, after the company announced it will begin trading on the Nasdaq Capital Market exchange starting Wednesday, April 19, 2017. The company will retain its “YERR” symbol. Here is the full press release detailing of the uplisting approval:
Yangtze River Development Limited Press Release:
NEW YORK, NY and WUHAN, CHINA – (NewMediaWire) – April 18, 2017 – Boustead Securities client Yangtze River Development Limited, (“YERR” or the “Company”), a Chinese infrastructure company that is engaged in the business of real estate development with a port logistics project located in the middle reaches of the Yangtze River, announced that its common stock has been approved for listing on the NASDAQ Capital Market and is expected to commence trading under the ticker symbol “YERR” on April 19, 2017. The Company’s common stock will continue to trade as “YERR” on the OTCQX until the market close on April 18, 2017.
http://newmediawire.s3.amazonaws.com/58f5555fcf16890004587765_1“Uplisting to NASDAQ represents an important milestone for Yangtze River Development Limited,” said Xiangyao Liu, CEO, Yangtze River Development Limited. “Trading on the NASDAQ Capital Market will increase our visibility and enhance our corporate profile. We believe that access to a broader and more institutional investor base that a NASDAQ listing provides will lead to improved value and liquidity for all of our shareholders,” he concluded.
“YERR has made significant progress as a result of investing nearly USD$300 million in assets and earning a market capitalization approaching USD$800 million, and the NASDAQ listing is another achievement for the Company’s growth plan,” said Dan McClory, Managing Director and Head of China for Boustead Securities, LLC, YERR’s Underwriter and Financial Advisor. “YERR plans to be among China’s leaders in the creation of infrastructure to build out and optimize the ‘One Belt, One Road’ initiative, which remains a major priority for Beijing and its continued development of international trade projects,” McClory stated. “We are pleased to be assisting YERR in obtaining and putting to work the capital required to build out such a strategic and large-scale development,” he said.
ABOUT YANGTZE RIVER DEVELOPMENT LIMITED.:
Yangtze River Development Limited primarily engages in the business of real estate development with a port logistic project located in the middle reaches of the Yangtze River. Wuhan Newport is a large infrastructure development project implemented under China’s “One Belt One Road” initiative and is strategically positioned in the “Free Trade Zone” of the Wuhan Port, a crucial trading window between China, the Middle East and Europe. To be fully developed upon completion of three phases, within the logistics center, there will be six operating zones, including a port operation area, warehouse and distribution area, a cold chain logistics area, rail cargo loading area, exhibition area and residential community. The logistics center is also expected to provide a number of shipping berths for cargo ships of various sizes. Wuhan Newport is expected to provide domestic and foreign businesses a direct access to the anticipated Free Trade Zone in Wuhan. For additional information please go to: http://www.yerr.com.cn
ABOUT BOUSTEAD SECURITIES, LLC:
Boustead Securities, LLC is an investment banking firm that advises clients on IPOs, mergers and acquisitions, capital raises and restructuring assignments in a wide array of industries, geographies and transactions. Our core value proposition is our ability to create opportunity through innovative solutions and tenacious execution. With experienced professionals in the United States and around the world, Boustead’s team moves quickly and provides a broad spectrum of sophisticated financial advice and services. For additional information please go to: www.boustead1828.com