MEDIA RELEASE PR41310
Sungwon Pipe Commences Trading on OTCQX
SEOUL, Republic of Korea, Sept. 17 /PRNewswire-AsiaNet/ --
OTCQX International Provides Sungwon Pipe Access to U.S.
Capital Markets and Investors
Sungwon Pipe Co. Ltd., Korea's leading provider of stainless steel pipes,
announced today that its American Depository Receipts (ADRs) are available
for trading in the United States on OTCQX International under the symbol
"SNGWY" as of market open this morning. Each ADR represents 10 ordinary
shares listed on the KOSDAQ under the symbol "015200."
"Given our current leadership in the Korean market and a strategic focus
to expand our business internationally, this is an opportune time for Sungwon
Pipe to increase its visibility and to establish a direct channel with U.S.
investors to share our strategic vision of becoming a major global player in
the stainless steel pipe industry," said Mr. Chung Keun Kim, Chief Executive
Officer of Sungwon Pipe. "We have achieved a milestone today as we are the
first company from Korea to list on the OTCQX. By doing so, we are
demonstrating our commitment to providing our investors with trading
transparency, easy access and high quality disclosure. We are confident that
our OTCQX listing paired with the extensive expertise and support of Madison
Williams will generate the long-term relationships we are seeking within the
U.S. investment community."
Managing Director and Head of Madison Williams' OTCQX Advisory Group
Stephen Nash said, "With an industry-leading energy investment banking
practice, Madison Williams has the expertise and network to raise Sungwon
Pipe's profile among U.S. investors. Several high caliber international
companies have recently taken advantage of OTCQX's cost-effective U.S.
quotation, enabling foreign equities to be traded during U.S. market hours
using U.S. dollars and be held in U.S. brokerage accounts."
As part of Madison Williams' Principal American Liaison sponsorship, the
firm has been retained to provide a suite of capital markets services and
will provide the PAL compliance function for Sungwon Pipe's listing on the
OTCQX International. Madison Williams' suite of services distinguishes its
PAL sponsorship program by providing the highest level of client service,
integration and coordination among the firm's institutional sales, trading,
research and investment banking departments.
The OTCQX is a highly visible trading platform that has attracted more
than 125 companies since its inception in early 2007. Built on a robust
electronic quotation and trading platform, the OTCQX International has
emerged as the world's premier cross-listing venue for international issuers
that wish to benefit from U.S. trading and investor demand without diluting
their current shareholder base. In just over three years, the OTCQX has grown
to include more than $600 billion in companies traded on the market.
About Sungwon Pipe Co. Ltd.
Sungwon Pipe Co., Ltd. is a Korea-based company that is primarily
involved in the production and supply of stainless steel pipes used in
different industrial applications. Sungwon Pipe Co. Ltd. is Korea's number
one stainless steel pipe manufacturing company. In December 2009, it acquired
MS Metal, the stockist and distributor as a wholly-owned subsidiary to become
Korea's first and largest total stainless steel pipe Company. The Company's
products are used in paper manufacturing, petrochemical industry, food
processing, heat exchangers, industrial structural products and shipbuilding.
Sungwon Pipe distributes its products in domestic markets and recently
announced an initiative to focus on the overseas markets with current
contracts in the United States and Middle East. Its major customers include
Samsung, Hyundai, Daewoo, etc.
About Madison Williams
Madison Williams is a privately held integrated capital markets and
investment banking firm offering advisory services, equity sales, trading,
and research services to institutional and corporate clients. Headquartered
in New York, the firm has more than 100 employees in six major offices,
including New York, Houston, New Orleans, Boston, Chicago and San Francisco.
Madison Williams was the capital markets business of Sanders Morris Harris
Group and was spun out in a management-led buyout in December 2009. For more
information about Madison Williams, contact 212-317-2707, or log on to
CONTACT:
Debra Chen
ICON Media Communications
Phone: 917.499.8129
Email: debra@imc-ir.com
Sungwon Pipe Co. Ltd.
SOURCE: Sungwon Pipe Co. Ltd.
CONTACT: Debra Chen of ICON Media Communications for Sungwon Pipe Co.
Ltd.,
+1-917-499-8129,
debra@imc-ir.com
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