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General Steel Holdings, Inc., one of China's leading non-state owned steel products producers, today began trading on NYSE Arca, NYSE Euronext’s fully electronic market for emerging issuers, under the ticker symbol “GSI” following its transfer from the American Stock Exchange. GSI is the first Chinese company to transfer to NYSE Arca from another exchange.
“We are pleased to welcome General Steel to NYSE Arca,” said NYSE Euronext Group Executive Vice President and Head of Global Listings, Catherine R. Kinney. “NYSE Arca offers General Steel and its shareholders a highly liquid and efficient market, and we look forward to providing the company with the superior market quality, services and brand visibility associated with listing on NYSE Euronext markets.”
"Moving to the NYSE Arca is a timely landmark for our company," said Henry Yu, Chairman and CEO of General Steel. "We expect that trading on NYSE Arca will elevate our company's standing within the international business community, as well as our visibility among the investment community at large," Yu added.
"We look forward to General Steel joining their growing base of listed companies," said John Chen, CFO of General Steel. "By choosing to list on the NYSE Arca, one of the world's most liquid equities markets, General Steel and the company's shareholders will benefit from their global reach and brand leadership," added Chen.
Background on NYSE Euronext-China:
- The NYSE Group now has 52 companies listed from Greater China, including 42 from Mainland China, 5 from Hong Kong, and 5 from the Taiwan region.
- The total global market capitalization of the 42 NYSE-listed Chinese companies from the mainland is $1.5 Trillion, and for the 52 companies from greater China, $1.6 Trillion.
About General Steel Holdings, Inc. (NYSE Arca: GSI)
General Steel Holdings, Inc., headquartered in Beijing, operates a diverse portfolio of Chinese steel companies. With 3 million tons aggregate production capacity, its companies serve various industries and produce a variety of steel products including reinforced bar (rebar), hot-rolled carbon and silicon sheet and spiral-weld pipe. The company has steel operations in Shaanxi province (central China), Inner Mongolia autonomous region (northwest China) and Tianjin municipality (northeast China).About NYSE Euronext (NYSE: NYX)
NYSE Euronext (NYX) operates the world’s leading and most liquid exchange group, and seeks to provide the highest levels of quality, customer choice and innovation. Its family of exchanges, located in six countries, include the New York Stock Exchange, the world's largest cash equities market; Euronext, the Eurozone's largest cash equities market; Liffe, Europe's leading derivatives exchange by value of trading; and NYSE Arca Options, one of the fastest growing U.S. options trading platforms. NYSE Euronext offers a diverse array of financial products and services for issuers, investors and financial institutions in cash equities, options and derivatives, ETFs, bonds, market data, and commercial technology solutions. NYSE Euronext's nearly 4,000 listed companies represent a combined $30.5 trillion/€20.9 trillion in total global market capitalization (as of Dec. 31, 2007), more than four times that of any other exchange group. NYSE Euronext's equity exchanges transact an average daily trading value of approximately $141 billion/€103 billion (as of Dec. 31, 2007), which represents more than one-third of the world's cash equities trading. NYSE Euronext is part of the S&P 500 index and the only exchange operator in the S&P 100 index. For more information, please visit www.nyx.com.
