Wasu Digital Television Media Completes Backdoor Listing

Shenzhen Stock Exchange, 9/04/12

Hunan-based aluminium, PVC, polyurethane, and plastic products manufacturer Genuine New Material Group (000156.SZ) has completed corporate restructuring and wholly acquired Wasu Media Network, a subsidiary of Hangzhou-based DTV and IPTV operator Wasu Digital Television Media Group, by issuing shares to Wasu Media shareholders through a private placement. As a result, Wasu Digital Television Media Group holds a 54.3% stake in Genuine New Material Group.

Genuine New Material Group will become a media and IPTV business and change its name to Wasu Media Holding Co., Ltd., and will be listed on Shenzhen Stock Exchange as Wasu Media.

Editor's Note: For more background on this topic, please see "Wasu to Conduct Backdoor Listing on Shenzhen Stock Exchange" MD 5/10/11 issue.

Keywords: cable TV corporate restructuring IPTV television DTV Shenzhen Stock Exchange Wasu listing Genuine New Material 000156.SZ

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