Chinese thin-film solar maker Hanergy has declared it will buy out its frozen Hong Kong shares and relist itself in mainland China, three years after its trading suspension presaged a crash in the Chinese stock market.
Hanergy’s decision comes after years of unsuccessful attempts to persuade regulators to allow it to resume trading in Hong Kong.
It lost $19bn in paper value in 47 minutes of trading in May 2015, when an apparent margin call triggered a collapse in its share price after months of market fascination with its unusual accounting practices and seemingly unstoppable price gains.
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