Delisting can be divided into active delisting and passive delisting:
Active delisting
It means that the company voluntarily applies to the regulatory authorities for cancellation permission according to the resolutions of the shareholders' meeting and the board of directors.
Generally, there are the following reasons: when the operating period expires, the shareholders' meeting decides not to extend it; The shareholders' meeting decides to dissolve; Dissolution due to merger or division; Bankruptcy; Adjust the structure and layout according to market demand.
Passive delisting
It means that futures institutions are forced to revoke their licenses by the regulatory authorities, which generally leads to major risks due to major violations of laws and regulations or poor management.
1. What do you mean by delisting?
In fact, stock delisting refers to the situation that a listed company does not meet the relevant requirements of trading, and then terminates its listing independently or passively, and finally changes from a listed company to an unlisted company.
There are also differences in delisting, namely, active delisting and passive delisting. If it can be decided by the company independently, it belongs to active delisting; Passive delisting is generally a major risk caused by major violations of laws and regulations or poor management. Licenses that are very important to the company will be forcibly revoked by the regulatory authorities. When the following three conditions are met, the company meets the delisting requirements.
Second, the stock has been delisted. What about those unsold stocks?
After the stock is delisted, the trading time of all delisting consolidation periods. Simply put, if the stock meets the delisting conditions and is forced to withdraw from the market, then the stock can be sold during this period. After the delisting period, the company will be delisted from the secondary market and no further transactions are allowed.
After the delisting period, if the shareholders holding stocks can only buy and sell in the New Third Board market, the New Third Board is actually dealing with delisted stocks. Partners who want to buy and sell stocks in the New Third Board have to open trading accounts in the New Third Board market if they want to trade.
It should be reminded that there is a "delisting period" after the stock is delisted. Even if you can sell stocks during this period, it is actually very unfriendly to retail investors. One day, the stock will enter the delisting period. First of all, big money will definitely flee first. It is difficult for small retail investors to sell small funds. Because the principle of selling transaction is time priority, price priority and big customer priority, when the stock can be sold, the stock price has dropped a lot, and retail investors will suffer serious losses.
Under the registration system, the risk of retail investors buying delisting risk stocks is very great, so ST shares or ST* shares must not be bought.
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