Jarlway to leave London's AIM on poor financials

Concrete pump maker China Jarlway Holdings, trying to repay its debts, plans to cancel its listing on the London Stock Exchange’s Alternate Investment Market (AIM) at the end of the month, the Financial Times reported. AIM’s growth is focused on attracting foreign companies, but several of its listed companies have started to look elsewhere for liquidity. Jarlway said its financial situation had deteriorated significantly this year and that the costs and regulatory burdens associated with retaining the AIM listing can no longer be justified. Jarlway is experiencing difficulties with its banks in China: its annual rolling credit facilities are not being renewed and existing facilities are being called for repayment. Jarlway’s shares will be suspended on AIM from October 1.