China North East Petroleum Holdings Ltd., a leading independent oil producing and oilfield services company in Northern China, is set to join the Russell Microcap® Index on June 24, according to a preliminary list of additions recently posted on www.russell.com/indexes.
China North East will hold membership in the index for the standard one-year placement, which will ensure its automatic inclusion in the respective growth and value style indexes. Russell considers membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes.
Jingfu Li, CEO of China North East Petroleum, said the listing on the index marks a significant achievement for the company and that he anticipates the listing will drive name recognition to investors.
“Our inclusion in the Russell Microcap index is a milestone event for NEP and can increase our visibility within the investment community. We are pleased to be included among the well respected companies in this index and look forward to the continued execution of our strategic operational initiatives,” Li stated in the press release.
Russell indexes are industry leaders, with $3.9 trillion in institutional assets currently benchmarked to them. Investment managers and institutional investors use the indexes for index funds and as benchmarks for both passive and active investment strategies.
For more information visit www.cnepetroleum.com