China Shengda Packaging Group (CPGI US)

China Shengda Packaging Group Inc., a paper packaging company, designs, manufactures, and sells flexo-printed and color-printed corrugated paper cartons of various sizes and strengths primarily in China.

China Shengda Packaging reported an operating income of $19m in 2010, for its underwritten public offering in Dec 2010. Its profit dropped to $9m in 2011, $5m in 2010, and remained under $3m in the following years.

The company received a letter from the NASDAQ Stock Market on 27 Oct 2011 indicating that, for the previous 30 consecutive business days, the bid price of the Company’s common stock had closed below the minimum $1.00 per share requirement for continued inclusion on The NASDAQ Global Market. It regained compliance in Dec 2011.
The company announced a $5m share repurchase programme in Jul 2011. The company went private in Sep 2015 as a result of a short-form merger by a consortium of its existing shareholders.

 

China Shengda Packaging: 2010 Annual Report, 4 Apr 2011

Newsfile: China Shengda Packaging Group Inc. Regains NASDAQ Compliance, 19 Dec 2011

PR Newswire: China Shengda Packaging Group Goes Private as a Result of a Short-form Merger by a Consortium of its Existing Shareholders, 15 Sep 2015

 

 

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