China Growth Alliance Ltd. is another a blank-check company or special purpose acquisition company (or SPAC) that has filed to come public via an initial public offering. It filed to sell up to $56 million in units and will trade under the "CGN" ticker on AMEX. China Growth plans to sell 7 million units in the IPO at $8.00 each.
Its underwriting group consist of Ferris Baker Watts Inc., Jesup & Lamont Securities Corp. and Maxim Group LLC. Each unit consists of one ordinary share and one Class B warrant, while each Class A warrant will entitle the holder to buy one ordinary share for $6.00.
As normal with blank-check and SPAC companies, China Growth will acquire an unspecified business. While no business, nor even exact sector is assured, the company intends to focus initial efforts in locating a business with operations in the People’s Republic of China. It’s a good thing they cleared that up, because that would have been almost impossible to tell by the name. Management is as follows:
- Dr. Bin Zhou, Chairman and Co-Chief Executive Officer;
- Mr. Peifeng Zhu Vice Chairman and Co-Chief Executive Officer;
- Mr. Dongbing Ma, Vice Chairman and President.
Jon C. Ogg
March 18, 2008
Sponsored: Want to Retire Early? Here’s a Great First Step
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
