Ex-Construction Firm That Bought a $75m Michelangelo to Delist

David statue on blue sky background

The firm was formerly a "vertically integrated manufacturer of eco-friendly building products."

January 8, 2019
Drew Singer - Bloomberg

A Chinese construction firm-turned-art-collector will be delisted from the Nasdaq effective Friday, following a 260 percent run-up in its stock price this fall.

Shares in Yulong Eco-Materials Ltd. soared after the company agreed to buy the “Millennium Sapphire” for $50 million in October and a “Crucifixion” painting for $75 million in November. The firm was formerly a “vertically integrated manufacturer of eco-friendly building products located in the city of Pingdingshan in Henan Province, China," according to a company filing.



714.701.9180

Arrange No Cost Consultation

 

Construction Defect Journal is aggregated from a variety of news sources, article submissions, contributors, and information from industry professionals.

No content on this site should be construed as legal advice or expert opinion. By viewing this site you agree to be bound by its terms and conditions

 

Copyright 2019 - Construction Defect Journal – All Rights Reserved