Nanjing Tanker may become first SOE delisted

Nanjing Tanker Corp, the listed subsidiary of state conglomerate Sinotrans & CSC, is expected be delisted after it reported a loss of 5.9 billion yuan ($950 million) in its 2013 annual report.

Nanjing Tanker is highly likely to become the first delisted State-owned enterprise directly under the State-owned Assets Supervision and Administration Commission, analysts said.

The company has suffered losses each year from 2010. Based on national rules, the Shanghai Stock Exchange will give a decision within 15 trading days on whether or not to delist Nanjing Tanker.

The rules of China's stock market state that, once a company is delisted, investors still have 30 trading days to trade in the shares. Nanjing Tanker may convert its shares to the "new third board", a trading platform designed mainly for small and medium companies in China.

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