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-- 1st Real Estate Developer from
-- NYSE Now Lists 50 Companies from Greater
-- 19th New Listing from Greater
NEW YORK, Dec. 13, 2007 – Xinyuan Real Estate Co., Ltd., a residential real estate developer in China, began trading on the New York Stock Exchange on Wed., December 12 under the ticker symbol “XIN” after its successful IPO in which it raised $245 million. The company is the first real estate developer from China to list on the NYSE.
"We are excited to welcome Xinyuan Real Estate Co., to our fast-growing family of Chinese listed companies," said NYSE Euronext President & Co-COO Catherine R. Kinney. "NYSE Euronext looks forward to providing Xinyuan Real Estate Co. and its shareholders with the superior services, market quality and brand visibility provided by listing on NYSE Euronext markets."
To celebrate this special occasion, Xinyuan Real Estate Co. Chairman and Chief Executive Officer Yong Zhang rang The Opening BellSM today, joined by NYSE Regulation Chief Executive Officer Richard Ketchum.
Please click here for a photo from today's bell ringing.
Background on NYSE Euronext-China:
• The NYSE now has 50 companies listed from Greater China, including 38 from Mainland China, 7 from Hong Kong, and 5 from the Taiwan region.
• Year to date, the NYSE listed 19 companies from Greater China. The listing of Xinyuan Real Estate Co., Ltd. represents the 17th NYSE IPO from China in 2007 to date.
• The total global market capitalization of the 38 NYSE-listed Chinese companies from the mainland is $1.5 Trillion, and for the 50 companies from greater China, $2.0 Trillion.
Xinyuan Real Estate Co., Ltd. (NYSE:XIN)
Xinyuan Real Estate Co., Ltd. is a fast-growing residential real estate developer that focuses on Tier II cities in China, which are a selected group of larger, more developed cities with above average GDP and urban population growth rates. The company utilizes a standardized and scalable model that emphasizes rapid asset turnover, efficient capital management and strict cost control. Xinyuan Real Estate Co. commenced operations in 1997 in Zhengzhou, the provincial capital of Henan Province, and were ranked No. 1 among all property developers in Zhengzhou in terms of contracted sales of residential units for the years 2004, 2005 and 2006, according to statistics prepared by the Bureau of Real Estate Management in Zhengzhou. Since 2006, the company has expanded into strategically selected Tier II cities around the country and expect to benefit from the rising residential housing demand in these markets resulting from increasing income levels of consumers and growing populations in these cities. Xinyuan Real Estate Co. currently has operations in five Tier II cities, including Chengdu in Sichuan Province, Hefei in Anhui Province, Jinan in Shandong Province, Suzhou in Jiangsu Province and Zhengzhou in Henan Province.
About NYSE Euronext (NYSE: NYX)
NYSE Euronext, a holding company created by the combination of NYSE Group, Inc. and Euronext N.V., commenced trading on April 4, 2007. NYSE Euronext (NYSE Euronext: NYX) operates the world’s largest and most liquid exchange group and offers the most diverse array of financial products and services. NYSE Euronext, which brings together six cash equities exchanges in five countries and six derivatives exchanges in six countries, is a world leader for listings, trading in cash equities, equity and interest rate derivatives, bonds and the distribution of market data. Representing a combined $30.3 trillion/€21.3 trillion total market capitalization of listed companies and average daily trading value of approximately $139 billion/€103 billion (as of September 30, 2007), NYSE Euronext seeks to provide the highest standards of market quality and integrity, innovative products and services to investors, issuers, and all users of its markets.
Cautionary Note Regarding Forward-Looking Statements
This press release may contain forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements concerning NYSE Euronext's plans, objectives, expectations and intentions and other statements that are not historical or current facts. Forward-looking statements are based on NYSE Euronext's current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Factors that could cause NYSE Euronext's results to differ materially from current expectations include, but are not limited to: NYSE Euronext's ability to implement its strategic initiatives, economic, political and market conditions and fluctuations, government and industry regulation, interest rate risk and U.S. and global competition, and other factors detailed in NYSE Euronext’s reference document for 2006 ("document de référence") filed with the French Autorité des Marchés Financiers (Registered on June 6, 2007 under No. R.07-0089), 2006 Annual Report on Form 10-K, as amended, and other periodic reports filed with the U.S. Securities and Exchange Commission or the French Autorité des Marchés Financiers. In addition, these statements are based on a number of assumptions that are subject to change. Accordingly, actual results may be materially higher or lower than those projected. The inclusion of such projections herein should not be regarded as a representation by NYSE Euronext that the projections will prove to be correct. This press release speaks only as of this date. NYSE Euronext disclaims any duty to update the information herein.
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