Developer Booted From Stock Market Amid Cleanup

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.