Governance of Chinese focused lottery provider DJI Holdings is seeking a secondary listing on the US NASDAQ exchange.
The specialist in Chinese sports lotteries views the NASDAQ listing as key to enhancing its market liquidity and developing a stronger investor base for future growth plans.
DJI Holdings’ governance outlined that the aimed to complete the listing by first quarter 2016.
Chief Executive Darren Mercer commented on corporate developments
he board outlined at the end of 2014 that it wished to seek a secondary listing on a more liquid exchange and we believe that this process would have already been concluded had it not been for the temporary suspension of the sale of online lottery products in China.
“Now, with the first steps towards regulatory change already taken, DJI is progressing a secondary listing in order to focus fully in 2016 on the opportunities that we expect the new lottery landscape to present.
“While lottery sales continue to be a key part of the group, the recent exciting developments in our business underline the diverse application of our technology across numerous sectors.
“Our new joint venture with the Heilongjiang Sports Bureau is already being promoted through three of China’s largest websites, while discussions are taking place with a number of other provinces in connection with the use of our strong online and mobile platform to undertake other non-lottery business streams.
“With this in mind, the board believes that NASDAQ, as the world’s leading stock exchange for technology companies, is the most appropriate through which to recognise the true value of DJI.”