SHANGHAI, April 11 Loss-making shipping company
Nanjing Tanker Corp will be delisted from the
Shanghai Stock Exchange after a five-day grace period, marking
the first time a company backed by the central government has
been dropped from a domestic exchange.
A statement carried on the Shanghai exchange's official
microblog said that the company will be delisted for posting
losses for three consecutive years, triggering the automatic
The company has the option of appealing the decision in the
next five days. Trading in Nanjing Tanker shares has been
suspended since April 2013.
According to Reuters calculations based on exchange data,
around 90 firms have been delisted from the Shanghai and
Shenzhen exchanges since their establishment.
(Reporting by Pete Sweeney and Lu Jianxin; Editing by