The Stock Exchange of Hong Kong Limited has stated that it is minded to exercise its power to cancel the listing of the shares of China Oriental Group Company Limited under the Listing Rules.
The Exchange requires that China Oriental Group Co. must have remedied the public float issue by January 27, 2017. Should the company fail to do so, the exchange may proceed with cancelling its listing.
Trading of China Oriental Group Co. shares has been suspended since April 29, 2014 due to insufficient public float of its shares.
HKEx has decided to commence procedures to cancel the company’s listing under Rule 6.01(2) on the ground that it has insufficient securities in the hands of the public for a prolonged period.