China Natural Gas Approved for Listing on the NASDAQ Global Market
03 Junio 2009 - 7:00AM
PR Newswire (US)
-- Trading on NASDAQ will commence June 5th under the symbol
"CHNG"-- NEW YORK, June 3 /PRNewswire-FirstCall/ -- China Natural
Gas, Inc. (the "Company") (OTC:CANL) (BULLETIN BOARD: CANL) , a
leading provider of compressed natural gas (CNG) for vehicular fuel
and pipeline natural gas for industrial, commercial and residential
use in Xi'an, China, today announced that it has received approval
for listing on the NASDAQ Global Market. The Company anticipates
that its shares of common stock will commence trading on the NASDAQ
Global Market on June 5, 2009, under the symbol "CHNG." Until that
time, the Company's shares will continue to trade on the OTC
Bulletin Board under the symbol "CANL." Mr. Qinan Ji, CEO and
Chairman of the Board of China Natural Gas, Inc., commented, "We
are very proud to be listing on the Nasdaq Global Market, an effort
that highlights our commitment to not only raise our visibility
among the investment community but also increase the liquidity and
trading efficiencies of our common stock. We believe this is a
significant milestone in our Company's history as we continue to
leverage our strong brand and considerable operational scale to
expand our geographical presence and steadily grow our CNG customer
base. We are steadfast in continually improving our corporate
governance and business operations, and I am confident in our
management team and in our competitive advantages. We aim to
deliver sustained strong financial results and to ultimately reward
our supportive shareholders with greater share value." About China
Natural Gas, Inc. China Natural Gas, Inc., ("CANL"), is the first
China-based natural gas retailing company publicly traded in the
U.S. The Company owns and operates a network of CNG filling
stations as well as a 120-kilometer compressed natural gas pipeline
in Xi'an, a fast growing Chinese city with population of 8.5
million and "gateway" to China's vast Western regions. CANL retails
natural gas at company-owned filling stations, delivers natural gas
services to residential, commercial and industrial customers, and
converts gasoline-fueled vehicles to hybrid (natural gas/gasoline)
powered vehicles. It is estimated that there are already 5,000
buses and 20,000 taxis using CNG in Xi'an. Safe Harbor Statement:
This press release may contain forward-looking statements. These
statements are based on the current expectations or beliefs of
China Natural Gas, Inc. management and are subject to a number of
factors and uncertainties that could cause actual results to differ
materially from those described in the forward-looking statements,
including the progress of construction and development activities,
fluctuation of natural gas prices, the availability of natural gas
supplies, changes in governmental regulations and/or economic
policies. CONTACT: Michael Tieu ICR, Inc. +86 10 6599 7960
DATASOURCE: China Natural Gas, Inc. CONTACT: Michael Tieu of ICR,
Inc., +86 10 6599 7960, for China Natural Gas, Inc. Web Site:
http://www.naturalgaschina.com/
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