MIACI is now listed with the American Stock Exchange

Mumbai, Sep 19 (UNI) Millennium India Acquisition (MIACI) Chairman, Kishore Mirchandani today announced that his new company has been successfully listed with the American Stock Exchange for starting operations in India soon.

MIACI is a blank check company, an American public company formed by a team of managers, mainly for the purpose of effecting a merger, capital stock exchange, asset acquisition or other similar transactions with one or more businesses having operations in any of the target countries.

CEO of the company and prominent US-based Indian businessman F Jacob Cherian said that the compnay has already collected USD 57 million through equity and is awaiting the right opportunity to begin it's Indian ventures.

He pinpointed that, India is happening in the US and all newspapers and American channels are full with India related news, events and it's growth on a daily basis, which prompted the birth of his new company.

Emphasising the finer aspect of the company, Cherian stressed that Indian business interests would be protected and the aim of MIACI is to augment the growth and productivity of sick Indian business units and interests.

Director Larry Burstein said that MIACI with it's strong and diverse team of managers will adhere to all the regulations, while venturing into the Indian markets through a tough criteria of selection and transaction process.

He clarified that the company's every investment and transaction with Indian companies will be done only after convincing American shareholders of the profit and advantages.

Vice President of the company, Suhel Kanugo added that each decision and investment on Indian firms will be made during a specified period of 24 months.

In the event MIACI decides to terminate any transaction, the company will do it in a period of six months, thereby returning back the money and interest to its shareholders, which he said is unlikely to happen as a result of its robust management team.

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