China Commercial cancels plans for $17.15 million placement of stock

Private offering of common shares with Langworth had priced on July 28

By Devika Patel

Knoxville, Tenn., Aug. 15 – China Commercial Credit Inc. has terminated a $17.15 million private placement of common stock with Langworth Holdings Ltd., according to an 8-K filed Friday with the Securities and Exchange Commission. The deal priced on July 28.

The Wujiang, China, company controls a microcredit company, Wujiang Luxiang, that provides direct loans and loan guarantee services to small-to-medium-sized businesses, farmers and individuals in the city of Wujiang, China.

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