Dalian RINO Environmental Engineering Science and Technology Co., Ltd., has obtained the permit to list on the Nasdaq Global Market, it began the listing on the market on July 13, 2009 code RINO, it is Chief’s third OTCBB client that transfered to Nasdaq successfully.
Dalian RINO was established in 2003, it’s a high technology firm in development, production and equipment installation of waste water disposal, smoke desulfurization, energy savings and resource recycle products. It is a leading large energy saving equipments and environmental protection equipments manufacture. However, due to constrain on money issues, it wasn’t able to expand its capability with the huge opportunity brought by the nation’s massive energy efficiency and emission reduction movement 3 years ago.
November 2006, only a month after first met Chief, RINO hired Chief Capital as its financial advisor on its financing and listing works in the US. October 11, 2007 under assistance from Chief, RINO made the first important step into the capital market operations – accomplished the 25 million USD financing work and listed on the OTCBB market. Backed by the raised capital, RINO started to grow very fast, with the 2008 global recession and the economy downturn in China, it achieved great performances – 119% growth on sales and net profits. The firm’s share price also climbed from $4.48 in October 2007 to around $10 recently.
RINO is Chief’s third client that has successfully transferred to higher market after FSIN and WUHN, it is also the second Chinese company that transferred to Nasdaq from OTCBB this year. Although the world capital market has warmed up a little in the second quarter, Chinese companies listings on US main market remains rare. Thus, the successfully transfer of RNIO is going to encourage other firms that are working on or planning to go public and raise money from overseas.
