Pacificnet.com gets onto Nasdaq through the back door

Having completed its back-door listing on Nasdaq, Pacificnet.com is looking to do a secondary placement.

Pacificnet.com has completed a reverse takeover of Creative Master International, and so becomes the first Asian internet company to achieve a back-door listing on Nasdaq. Under the terms of the deal, Pacificnet.com and Creative Master International will swap shares, with Creative issuing 21.5 million new shares to Pacificnet.com. The new company will be 80% owned by Pacificnet and 20% held by the public. The company will trade on Nasdaq under the symbol PACT. Pacificnet has announced that it intends to sell off Creative Master - a manufacturer of toy cars.

However, this deal is only the precursor to a secondary placement in which new finance will be raised. We will do a secondary...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222