Sinovac Biotech to transfer quote to NASDAQ from Amex

Sinovac Biotech Ltd, China's first officially approved H1N1 flu vaccine maker, announced yesterday it would transfer its stock exchange listing to the NASDAQ Global Market from NYSE Amex in a bid to raise more funds and become a leading vaccine producer.

The spread of H1N1 flu in China has benefited Sinovac, which is China's second largest H1N1 flu vaccine producer in volume terms. Its shares are expected to start trading on the NASDAQ by mid-November.

The funds raised will be injected into expanding vaccine production capacity, strengthening research capability and conducting mergers and acquisitions, said corporate executives.