HK bourse may seek to delist China Shanshui Cement -firm

China Shanshui Cement

27/10/2017 08:26

HONG KONG, Oct 27 (Reuters) - China Shanshui Cement Group 
Ltd  0691.HK  said the Hong Kong stock exchange would seek to 
delist the firm if it was not able to restore a minimum public 
float of 25 percent of its issued share capital by the middle of 
next year.  
    The Hong Kong-listed cement maker, already suspended from 
trading for the past two-and-a-half years, has been embroiled in 
a bitter boardroom battle involving investors and executives. 
    In an exchange filing on Friday, the firm said the stock 
exchange had warned the firm it would have until June 30, 2018 
to restore its minimum public float and to resume share trading 
within a reasonable period of time, or its listing would be 
cancelled. [http://bit.ly/2y7zdvD 
] 
    The firm, with a market capitalisation of HK$21.3 billion  
($2.73 billion) when it last traded, said it intended to object 
to the proposed delisting. 
    The stock exchange declined to comment on the case.  
    The stock has not traded since April 2015 after the Tianrui 
Group raised its stake to become the company's biggest 
shareholder and its public float fell below the permitted 
minimum level. 
    In April, several executives claimed to have been attacked 
with pepper spray and held for two hours by associates of a 
former official, when they tried to retake control of company 
property in eastern China.  urn:newsml:reuters.com:*:nL3N1HI1QK 
 ($1 = 7.8040 Hong Kong dollars) 
 
 (Reporting by Donny Kwok, Editing by James Pomfret and Himani 
Sarkar) 
 ((donny.kwok@thomsonreuters.com; +852 2843 6470; Reuters 
Messaging: donny.kwok.reuters.com@reuters.net)) 
 
Keywords: SHANSHUI CEMENT DELIST/