Program Title:

LEHMAN, LEE & XU "Reverse-Merger Listings for Chinese Companies:  Is the Backdoor Shut?

Program Description:  

In recent years a proliferation of small private companies have listed on the NASDAQ and other stock exchanges through reverse mergers with public shell companies.  The U.S. Securities and Exchange Commission has recently revoked the registrations of eight China-based companies, citing financial accounting irregularities and is considering regulatory and statutory changes.  This program will explore the legal requirements and the anticipated statutory and regulatory changes for these types of listings.

Program Chair:

Edward Lehman, LEHMAN, LEE & XU Managing Director China and Mongolia (+8610) 8532-1919 elehman@lehmanlaw.comelehman@lehmanlaw.com<//a>

Narrative:

In recent years a proliferation of small private companies have listed on the NASDAQ and other stock exchanges through reverse mergers with public shell companies, avoiding the more rigorous and traditional process of conducting an initial public offering.  With the growth of Chinese companies, Chinese companies in particular have taken this route, and a thriving legal industry handling reverse mergers and listings in the U.S. has arisen.  Even though reverse mergers are still available, the U.S. Securities and Exchange Commission has revoked the registrations of eight China-based companies since December 2010, and more than 24 Chinese companies have disclosed auditor resignations or accounting problems since March 2011, according to the U.S. Securities and Exchange Commission.  The SEC is reviewing the rules regarding reverse merger listings, and the market for these listings has been adversely impacted.  The Chinese authorities are also considering policy initiatives to curb abuses.  There will be a panel of Lehman, Lee & Xu attorneys with diverse experience addressing the legal requirements, the future prospects for these types of listings, the lawyer鈥檚 role in the listing process and in the subsequent regulatory compliance process and the reactions by Chinese companies to the revocation of registrations and the alternatives and how they are handling entering the US securities market.

Topics to be Covered:

Target Audience:  

Any lawyer advising Chinese companies on listing of securities on foreign exchanges

Program Format:

Panelists will respond to questions from the moderator.

Speakers:

Panelists will include LEHMAN, LEE & XU corporate commercial attorneys experienced in representing Chinese companies in their reverse mergers, their ensuing listings and in their regulatory securities compliance after listing.  To register please contact Claire Yao at cyan@lehmanlaw.com<//a>

see www.lehmanlaw.com