New delisting procedures took effect on Friday on the Shanghai Stock Exchange as part of the bourse's efforts to promote delisting reform and better protect investors' interests.
Two kinds of stocks will be traded on the newly launched risk alert board, under the new policies. One is shares carrying "ST" (special treatment) or "*ST" tags, which suffer losses for two consecutive years or more, and the other is stocks that enter delisting procedures.
Currently, 23 stocks carry "ST" tags and another 20 "*ST" tags, with no stocks categorized as to-be-delisted, the People's Daily reported, citing an unnamed source from the Shanghai exchange.
The 43 stocks officially started to trade on the risk alert board on Friday, subject to a 5 percent trading fluctuation limit. To-be-delisted shares are allowed to rise or fall by 10 percent each day and the bourse will disclose the top five buyers and sellers of the shares on a daily basis.
Copyright ©1999-2011 Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.
