If the company declares bankruptcy due to poor management or other reasons after the stock is delisted, then according to the bankruptcy procedure, the listed company must first repay the debt and the priority equity, and the remaining assets are the distributable property of the common shareholders. Generally speaking, a delisted stock is declared bankrupt, and ordinary shareholders basically have no assets to divide, but they do not need to share the joint liability of listed companies.
If the company's operation returns to normal after delisting, and it is allowed to apply for listing again, or if the company is successfully reorganized and allowed to re-list, then the shareholders holding delisted shares will have the opportunity to turn over their profits and even earn considerable profits. For example, after the successful restructuring of Southwest Securities, there were 43 consecutive daily limit boards after the backdoor st Longyun, creating a record of continuous daily limit boards in the A-share market. Panzhihua Iron and Steel Co., Ltd., which was re-listed on the 24th of this month, also saw a considerable increase.
Extended data:
If your stock is listed on the third board, you can trade it in the third board market three times a week (Monday, Wednesday and Friday) and once a week (every Friday) according to your performance. First of all, you should go to the securities business department to open a shareholder account in the third board market. You need to bring your ID card, shareholder account card and your stock trading card. First open an account for the shareholders of the third board, and then transfer the shares. If you haven't been on the third board, you have to wait patiently. There are three possibilities, one is to return to the main board after reorganization (such as Jinan Light Automobile), the other is to go to the third board in the future, and the other is to go bankrupt and completely disappear.
Detailed provisions:
1. According to the relevant regulations, the shares originally circulated in the exchange of delisting companies will be transferred by securities companies (sponsoring brokers) qualified to handle share transfer business, and will be traded in the share transfer system within 45 working days.
2. According to the regulations, the shareholders of delisting companies need to open a share transfer account (individual shareholder 30 yuan, institutional shareholder 100 yuan) and go through the procedures of share confirmation and transfer custody (individual shareholder 10 yuan, institutional shareholder 30 yuan). Individual shareholders should bring their ID cards when opening share transfer accounts.
3. Before the delisting company is listed on the agency share transfer system, shareholders should go through the procedures of share confirmation and transfer custody as soon as possible, otherwise it may not be able to catch up with the company's first trading day. After the delisting company goes public, shareholders can continue to go through the formalities of confirmation and transfer of shares, but their shares can only be transferred after two trading days (that is, the third board transaction).
Reference: Delisting Baidu Encyclopedia