SEATTLE, May 21, 2013 /PRNewswire/ -- L & L Energy, Inc. (NASDAQ: "LLEN") ("L&L" or the "Company"), a U.S.-based company with a track record of profitable coal operations in China, is pleased to announce it has selected top tier Taiwan underwriter, Taishin (meaning New Taiwan) Securities Co, to underwrite L&L's Taiwan Depository Receipt (TDR) listing.
Following April's engagement of KPMG Taiwan (KPMG) to audit L&L's financial statements to comply with Taiwan Stock Exchange listing regulations, Taishin will act as underwriter to raise capital for the issuance in Taiwan.
Taishin Securities is a subsidiary of Taishin Financial Holdings (2887: Taiwan Stock Exchange). Taishin Financial Holdings also controls Taishin International Bank and Taishi Venture Capital, as well as 22% ownership of Chang Hwa Commercial Bank, the oldest commercial bank in Taiwan.
In conjunction with the Taiwan listing, L&L is expanding its Taiwan operations, including establishing business with Apollo Technology in clean (coal) energy business and exploring opportunities with China Development & Industrial Bank (CDIB) on international trade finance.
L&L Chairman and CEO, Dickson Lee commented, "I am pleased to secure strong partners such as Taishin and KPMG for our Taiwan listing. Taishin team has demonstrated professionalism and support for our expansion into the Taiwan energy market. I look forward to working with Taishin to enhance LLEN shareholders value."
Forward Looking Statements
The statements containing words that are not historical fact, including statements related to Company's Litigation Reform Act of 1995, and that involve a number uncertainties. Actual results of the future events described in this document could differ materially. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
L&L Energy Inc.
SOURCE L & L Energy, Inc.