Two thousand eight hundred and two days and counting. That is how long investors have been locked into New City China Development, a property concern, since the company’s 240m floated shares were suspended from trading on the Hong Kong Stock Exchange. New City has dragged its feet through a three-stage delisting process ever since. From the HKSE, which unlike other exchange groups acts as its own primary regulator for listing-related matters, this is not good enough.
2802天——自新城市(中國)建設有限公司(New City China Development)在香港交易所(HKEx)上市的2.4億股流通股被停牌以來,該公司的投資者已被「綁架」了這麼多時日,而且這一「綁架」現在還沒有結束。新城市在停牌後拖拖拉拉地走上了一個分三階段的除牌程式。從港交所的角度來說,這不是一件多麼光彩的事。與其他交易所集團不同,在上市相關事務上,港交所是自身的主要監管者。