Jingwei International signs share exchange agreement with Neoview Holdings
Jingwei International Investments Ltd., a leading technology services provider in China, announced that it has completed a reverse merger and share exchange with the shareholders of Neoview Holdings Inc., a company registered in the British Virgin Islands and having its main office in Chicago.
According to the share exchange agreement, the Chinese company, which is also incorporated under the law of the BVI, completed a $16.9 million private placement with certain accredited investors. In the share exchange transaction, the newly issued shares of the Neoview Holdings were exchanged for shares held by Jingwei shareholders.
Sign of the agreement was preceded by the negotiations between the two BVI companies, on potential acqusition or business combination. As a result of the current transaction, the shareholders of Jingwei own approximately 87% of Neoview’s shares, and Jingwei becomes a wholly-owned operating subsidiary of Neoview.
Neoview is going to amend its Articles of Incorporation to change its name to Jingwei International Ltd. Neoview will also replace its current management team by the executives of Jingwei and will follow the current business plan of Jingwei.
Jingwei International Investments provides software and data mining services, operates under exclusive licensing and revenue sharing agreements with China Mobile and China Unicom, and having software installations with several additional Chinese telecom companies.