Caixin
Nov 09, 2018 06:41 AM
FINANCE

Developer Booted From Stock Market Amid Cleanup

Zhonghong’s shares have traded below par value since September. Photo: VCG
Zhonghong’s shares have traded below par value since September. Photo: VCG

Property developer Zhonghong Holdings Group became the first company in China to be delisted by regulators because of poor share price performance amid a company debt crisis.

The Shenzhen Stock Exchange announced the delisting Thursday as Zhonghong’s shares have constantly traded below par value. Zhonghong will enter a delisting period of 30 trading days starting Nov. 16 and be removed from the exchange thereafter, the bourse said.

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