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Dongfang faces delisting threat

Author: Posttime:2012-03-21 09:05:10

London: Chinese firm Dongfang Shipbuilding has halted the trading of its shares in London after the resignation of its nominated adviser and broker Northland Capital Partners.Trading in Dongfang's securities on AIM was suspended on Monday in accordance with AIM Rule 1.The Chinese shipyard now has one month to appoint a replacement nominated adviser or the admission of its securities to AIM will be cancelled.Dongfang became the first Chinese shipbuilding company to join AIM in August 2011. The company posted a net loss of $3.7m after taxation in the six months ended 30 June 2011. The shipyard is currently struggling with payment defaults to banks.

source:Seatrade-asia
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