SHENZHEN, China , July 29 /Xinhua-PRNewswire/ -- China Security &
Surveillance Technology, Inc. (NYSE: CSR) ('CSST' or 'Company'), a leading
provider of digital surveillance technology in the People's Republic of China ,
today announced its intention to apply to list its shares on the Dubai
International Financial Exchange (the "DIFX"). The Company is already listed
on the New York Stock Exchange, and has a market capitalisation of over
Formed in September 2005 , the DIFX is a new international stock exchange,
based in the United Arab Emirates . The exchange provides state of the art
trading technology, servicing both the rapidly expanding Middle East region
and permitting any international company to list, providing, inter alia, it
has a market capitalisation of
"We are extremely excited about the opportunity of becoming the first Chinese company and also the first NYSE-listed company to list its shares on the DIFX. This will provide our group with wider market access and a significantly higher profile in the Middle East . While we continue with our business strategy of expanding domestically in China , we believe that a listing in Dubai will provide the group with a foothold into the rapidly expanding Middle East markets and surrounding regions, including Africa , India and Pakistan . Demand for security related products and services within these regions continues to grow significantly. The DIFX bridges the gap between the capital markets in Hong Kong , New York and London ," said Chairman and Chief Executive Officer, Guoshen Tu.
Dubai -based Investment Bank, MAC Capital Limited, has been appointed to advise the Company on its listing.
"A listing on the DIFX would extend the number of hours that CSST's stock will be able to trade in a business day, would eventually broaden its shareholder base and would boost the profile of the Company in the Middle East . New investors from the U.A.E. and the other Gulf countries would now be able to directly participate in the phenomenal growth of this company. CSST's various business lines should be in great demand in the region and a successful listing on the DIFX will certainly demonstrate its willingness to become part of the Gulf Cooperation Council's business community," added Robert W. McMillen , Chairman of MAC Capital.
NOTES FOR THE EDITOR:
About China Security & Surveillance Technology, Inc.
Based in Shenzhen, China , CSST manufactures, distributes, installs and maintains security and surveillance systems throughout the PRC. CSST has a significant number of manufacturing facilities located in China and has its R&D facility under an exclusive collaboration agreement with Beijing University and Wuhan University. It has built a diversified customer base through its extensive sales and service network that includes numerous points of presence throughout the PRC. To learn more about the Company visit http://www.csst.com .
About MAC Capital Limited
MAC Capital Limited is regulated by the Dubai Financial Services Authority and is a member of the DIFX. The group's shareholders include international stock brokers, investment banks and private banks, including:
and a number of prominent international businessmen. Its website is http://www.maccapital.ae .
In Dubai , its affiliate MAC Sharaf Securities (U.A.E.) LLC, is a fully licenced stock broker on the Dubai Financial Market ("DFM") and the Abu Dhabi Securities Exchange ("ADX") and its Dubai -based partners are the Sharaf Group and Major General Mohammed Abdul Rahim Al Ali .
SOURCE China Security & Surveillance Technology, Inc.