Delisting can be divided into active delisting and passive delisting:
Active delisting means that the company actively applies to the regulatory authorities to cancel the "License" in accordance with the resolutions of the shareholders' meeting and the board of directors. 》, generally for the following reasons: the business period expires and the shareholders’ meeting decides not to continue; the shareholders’ meeting decides to dissolve; the company needs to be dissolved due to merger or division; bankruptcy; the structure and layout are adjusted according to market needs.
Passive delisting means that a futures institution is forcibly revoked of its "License" by the regulatory authorities, usually due to major violations of laws and regulations or major risks caused by poor operation and management.
Extended information:
Delisting disposal:
1. According to relevant regulations, the shares of the delisted company that were originally circulated on the exchange will be transferred by an agency with the ability to handle shares. Securities companies with business qualifications (sponsoring securities firms) can handle the transfer on their behalf and enter the agency share transfer system transaction within 45 working days.
2. According to regulations, shareholders of delisted companies must first open a share transfer account (the account opening fee is 30 yuan for individual shareholders and 100 yuan for institutional shareholders), and go through the procedures for confirming the rights of the shares and transferring custody (for individuals) The handling fee for confirming the rights of shareholders is 10 yuan, and the handling fee for confirming the rights of institutional shareholders is 30 yuan). Individual shareholders should bring their ID cards when opening a share transfer account.
3. Before a delisted company is listed on the agency share transfer system, shareholders should go through the procedures for confirmation of share rights and transfer of custody as soon as possible, otherwise they may not be able to trade on the company's first trading day. After the delisted company is listed, shareholders can continue to go through the procedures for confirming the rights of the shares and transferring custody, but their shares need to pass two trading days before they can be transferred (i.e., the third board transaction).
Reference material: Baidu Encyclopedia Delisting--Type Introduction