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China Xiniya gets clearance to list on NYSE American

China Xiniya Fashion Ltd. on Dec. 28 said it received approval for its application to list American depositary shares on NYSE American.

With the approval that was granted Dec. 27, the apparel company expects to begin trading Dec. 29 on NYSE American under its current symbol of XNY.

China Xiniya, which is in the process of changing its core business from men's fashion to microlending through purchase and divestiture deals, added that its planned ADS-to-share ratio change was expected to go into effect Dec. 28. Going forward, each ADS will represent 48 ordinary shares of the company at $0.00005 per share, rather than the previous ratio of one ADS to 16 shares.