Middle Kingdom Alliance Corp (MKGB.OB) Roams into Cell Phone Merger
Source: http://Blog.QualityStocks.net/?p=12243Posted on Tuesday, September 9th, 2008 | In Small & Micro Cap
The Atlanta based company Middle Kingdom Alliance Corporation (OTCBB: MKGB, MKGBB, MKGBW, MKGDU and MKGBU) announced that it has entered an agreement that would merge the company with Pypo Digital Company Limited. Pypo is the leading distributor of mobile phones in China and is an international corporation that has two institutional shareholders: Golden Meditech, which is a Hong Kong investment company (8180.HK); and ARC Capital Holdings Limited, which is a London AIM-listed fund (ARCH.LN).
A Middle Kingdom shareholders meeting will be held to obtain approval for the merger. Pypo is prepared to purchase 10,000,000 of Middle Kingdom Alliance Class B shares at prices up to $8.40 a share. The merged company will be named Pypo China Holdings Limited and the new entity intends to apply for the listing on NASDAQ as soon as practicable following the closing of the merger.
Pypo is one of four national distributors of Samsung mobile phones in China and has an extensive distribution network that covers over 350 cities. The mobile phone industry is vastly becoming more popular in China and is expected to grow from 510 million today to over 1 billion in 2012.
Middle Kingdom, which was established in 2006 will have an estimated purchase price of $378 million is approximately 12.6x the size of Middle Kingdom’s IPO.
Let us hear your thoughts below:
Last 5 posts by QualityStocks
- Omnicity Corp. (OMCY.OB) Announces Addition of New Board Member - November 20th, 2009
- Muscle Flex, Inc. (MFLI.PK) Announces Release Time for the BUDDY Tablet Caddy Two-Minute Commercial and Landing Page - November 20th, 2009
- Artfest International, Inc. (ARTS.OB) Announces Revenue Profit Jumps - November 20th, 2009
- Omnicity Corp.’s (OMCY.OB) Recently-Issued Corporate Update - November 20th, 2009
- Soligenix Inc. (SNGX.OB) Taking Steps to Meet Challenges of Vaccine Technology and Biological Warfare - November 20th, 2009
ARC Capital Holdings Limited, Atlanta, cellular telephone, China, Distribution Network, Golden Meditech, Hong Kong, Middle Kingdom Alliance Corp, Mobile Phones, Pypo China Holdings Limited, Pypo Digital Company Limited, Samsung, Small & Micro Cap, USD
 About QualityStocks (http://QualityStocks.net)
Our name, QualityStocks, emphasizes our commitment to connect subscribers with companies that have huge potential to succeed in the short and long-term future. We believe strong management and vision for the future are crucial for any company to be successful. Timing is everything and we help investors succeed by providing an objective, broad-based view of the SmallCap markets on a daily basis. Please see disclaimer on QualityStocks website: http://disclaimer.qualitystocks.net |
No recommendations, either expressed or implied, are being made to buy, sell, hold or short any of the mentioned stocks. No legal, tax or accounting advice is expressed or implied. Always contact your attorney, CPA, or tax advisor before acting on any legal or tax issues. StraightStocks.com is not responsible for the content, products, or services of any of the advertisers on this site. StraightStocks.com receives compensation from advertisers on this blog. Services and products referred to herein are trademarks, registered trademarks, servicemarks, and/or registered servicemarks of their respective trademark or servicemark owners.