The Shanghai Stock Exchange on Sunday said it would delist Nanjing Tanker (600087.SHA) after four consecutive years of losses, The Wall Street Journal reported. The money-losing state-run shipping business will become the first company delisted from China’s main stock exchange in seven years, an action seen as a signal of Beijing’s intent to improve its stock market, cut financial risks and reduce industrial overcapacity. Nanjing Tanker’s stock, which has been suspended since last year, will be allowed to resume trading next week and the shares will trade for 30 sessions before being removed from the bourse.
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