NEW YORK, July 8, 2010 (GLOBE NEWSWIRE) -- AutoNavi Holdings Limited ("AutoNavi") (Nasdaq:AMAP), a leading provider of digital map content and navigation and location-based solutions in China, last week became the 145th Chinese company to list on the NASDAQ Stock Market, following its initial public offering of 9,918,750 American depositary shares ("ADSs") at the public offering price of $12.50 per ADS.
"We are glad that AutoNavi chose to list on NASDAQ OMX, the home of innovation and growth," said Bob McCooey, Senior Vice President of New Listings and Capital Markets, NASDAQ OMX.
AutoNavi is the 22nd new Chinese listing and the 8th on NASDAQ in 2010. The company will use the net proceeds from the offering to expand its data processing facilities and build a research and development center, to fund the capital expenditure for its aerial photogrammetry business, and for general corporate purposes. AutoNavi's Chairman Jun Hou and CEO Congwu Cheng rang the closing bell at the NASDAQ MarketSite in New York City's Times Square on July 1st.
There have been eight Chinese IPOs and 10 over-the-counter bulletin board (OTCBB) upgrades and four switches this year. Of the 145 Chinese companies listed on NASDAQ, 123 are from mainland China and 16 are from Hong Kong, with five from Taiwan and one from Macau.
The 145 Chinese listed companies include Baidu, NASDAQ's largest listed company in China and a member of the prestigious NASDAQ-100 Index®, Asia Info, China Insure, China Real Estate Information Corporation, Changyou.com, JA Solar, Shanda Games Limited, Sohu and Sina. Global brand names like Starbucks, Google, Microsoft, Staples, Intel, Amgen, United Airlines, the Chicago Mercantile Exchange, First Solar, Apollo Group and News Corp list on The NASDAQ Stock Market.
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