Shanghai bourse confirms delisting of Nanjing Tanker

The Shanghai Stock Exchange announced over the weekend that NJTC will be given a five-day grace period before it will be removed from the bourse.

Shares of NJTC have been suspended from trading since April 2013.

In 2013, NJTC posted its fourth year of net loss with a deficit of RMB5.92bn ($950.96m), widening from a loss of RMB1.24bn in 2012.

The subsidiary of Sinotrans & CSC Group has not been able to reverse its fortunes due to the sluggish global oil tanker shipping market over the past few years.

NJTC has the option to appeal against the delisting in the next five days.