Market Chatter: Three More Chinese Developers Face Delisting from Shanghai, Shenzhen Bourses

MT Newswires Live07-05

Chinese developers Shanghai Shimao (SHA:600823), Jiangsu Zhongnan Construction Group (SHE:000961), and Dima Holdings (SHA:600565) started the delisting process in June as their stock prices failed to reach more than 1 yuan per day for 20 consecutive trading days, Yicai Global reported Wednesday.

The developers tried to bring back their stock prices above 1 yuan through share repurchases and delivering good news to investors but did not succeed, the report said.

Developers at risk of delisting usually face slow debt restructuring and other operational issues, the report said, citing China Index Academy Business Research Director Liu Shui.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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