Shanghai-Listed Developer Languang Faces Likely Delisting

(Bloomberg) — A distressed Chinese property developer is likely to delist from the country’s stock exchange, sending a fresh reminder the nation’s weaker builders are still struggling to survive. 

Sichuan Languang Development Co. Ltd., a private builder of residential buildings and offices in the southwest city of Chengdu, said in a filing that it has received a notice from the Shanghai Stock Exchange about its plan to delist its shares. The company has triggered a delisting situation after breaching listing rules for closing below one yuan per share for 20 consecutive sessions.