China Information Technology, Inc. (CNIT), China-based company specializing in geographic information systems (GIS), digital public security technology (DPST), and hospital information systems (HIS), as well as high-end digital display products and solutions in China, announced the completion of the reorganization merger. The purpose of this transaction was to reorganize the company as a British Virgin Islands company.
Pursuant to the merger, each outstanding share of the common stock of China Information Technology was converted into the right to receive one ordinary share of CNIT as a British Virgin Islands company (CNIT BVI).
Ordinary shares of the BVI company are listed on the NASDAQ Global Select Market under the same trading symbol under which the common stock of the company were listed.
