West China Cement delays Hong Kong listing
West China Cement has postponed its move to the Hong Kong Stock Exchange because of the current stockmarket turmoil.
The move to a HKEx listing and cancellation of the AIM quotation were supposed to happen before the end of June. A date of 18 June had been indicated in April. West China currently expects the move to happen some time in the second half of 2010.
The exact timing of the move will depend on market conditions. The West China share price has fallen by more than one-third over the past month. West China has already received shareholder approval on 31 March for the move to the HKEx listing and the ditching of the AIM quotation.
However, West China will hold an EGM to re-approve the AIM quotation cancellation when it has decided to make the move to a HKEx listing. Tian Zhenjun has been appointed as chief operating officer and Sin Lik Man has become company secretary.
Published under Cement News
