China Web Software announces release of pre-depository securities in US

Xinhua Shanghai, July 17 (Xinhua Kaoshaohua) software company announced 17th that it has submitted a stock listing application to the Securities and Exchange Commission (SEC) for the first time in the United States to publicly issue pre-supporting securities (ADS). The China net software issue pre-backed securities listing application has been submitted to the SEC, but has not yet entered into force. Each pre-support unit represents a common share of Chinese software Class A, which is expected to be priced at between 11 and 13 dollars per share.　　Prior to the entry into force of the listing application, the pre-entrusted securities can neither sell nor accept the offer of purchase. In a press release, Yeckyon, CEO of China Net Software and China Net Investment Group Limited, said the Chinese software listing helped investors differentiate the brand of Chinese web software from the rest of the company's core business.　　The planned pre-IPO IPO is a concrete implementation of the company's previously announced strategic initiatives and a clear positioning of the Chinese software as an enterprise software company. China NET Software is a wholly owned subsidiary of China Net Investment Group Limited, which is listed in Nasdaq. As of the date of submitting the listing application, the China Net Investment Group Corporation indirectly owns the common stock of China net software. Once the issue is successful, the equity interest in China Net's software will be reduced from 100% to 83.4%.