Caixin
Nov 05, 2018 08:02 PM
FINANCE

Delisted Tanker Company Allowed Back on Shanghai Exchange

A freighter docks in Nanjing, Jiangsu province in 2010. Photo: IC
A freighter docks in Nanjing, Jiangsu province in 2010. Photo: IC

The Shanghai Stock Exchange has given a state-owned tanker company approval to relist, marking the first time a delisted company has ever been allowed to return to the Chinese mainland market.

The relisting of Nanjing Tanker Corp. may bolster confidence in the health of the domestic stock markets as it demonstrates that a booted company can get back on an exchange once it gets its finances in order. However, the case has also sparked concerns that it will encourage investors to speculate on delisted shell companies, now that they know it is possible to return to the markets.

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