- CIIX recently hired Boustead Securities LLC as underwriter for the planned IPO of its wholly owned subsidiary, CBD Biotech
- Warren Wang, CEO of CIIX, said that the move is part of its strategic plan, as CIIX looks to return to its root activities in education and consulting with companies seeking to raise profile within the investment community
- Boustead Securities would serve as IPO sponsor and underwriter, CIIX said
ChineseInvestors.com, Inc.’s (OTCQB: CIIX) retention of Boustead Securities LLC for its anticipated IPO of wholly owned foreign enterprise CBD Biotech will enable the company to focus on its revenue base in video and online education, investor relations services and subscription activities. At the same time, CIIX plans to secure a separate exchange listing for CBD Biotech (http://ibn.fm/aS1BM).
In a news release, Warren Wang, CEO of CIIX, said, “Additionally, we believe that listing on a national exchange speaks to the quality of CBD Biotech, will provide us with market visibility and access to capital, and further support our growth strategy.”
Dan McClory, Boustead Securities’ managing director, head of China and head of equity capital markets, was optimistic. “We believe CBD Biotech can potentially gain a first mover advantage in the Chinese CBD market and could be well received in the public markets,” he noted in a news release.
CIIX sees CBD Biotech delivering higher CBD product distribution in FY2019, both domestically and in China. It reported an 800 percent increase in product sales led by ChineseHempOil.com, Inc. during its fiscal first quarter of 2019. CIIX recorded 70 percent higher YOY sales for the same fiscal quarter (http://ibn.fm/cGO9x).
For more information, visit the company’s website at www.ChineseInvestors.com