On the evening of August 19, the first domestic pig breeding stock *ST Young Eagle, could not escape the fate of delisting. The Shenzhen Stock Exchange issued an announcement stating that it had made a decision to terminate the listing of *ST Young Eagle. This is another "one-yuan delisting stock" after Zhonghong shares, becoming the second delisting share of par value. Since last year, the number of delisted stocks has gradually accumulated. It seems that the supervisory authorities are going to "normalize the delisting". Compared with the high-speed issuance of IPOs in recent years, the implementation of the delisting system has not kept up.
The registration system has been piloted on the Shanghai Science and Technology Innovation Board. At the same time, Shenzhen is building a pilot demonstration zone and the Shenzhen Growth Enterprise Market registration system reform is put on the agenda. The implementation of the registration system must have a complete delisting system. Keep the market "vigorous." Therefore, the "normalization of delisting" is on the way, and junk stocks are gradually being marginalized. We are determined not to participate in the hype of junk stocks. However, unfortunately, the stocks I bought have been delisted. What should I do? Let's first understand the process of delisting.
The first step is to warn of delisting risks. When a stock meets the triggering conditions for the delisting risk warning, it will be issued a delisting risk warning. Trading will be suspended for one day on the announcement day, and "*ST" must be added before the stock name. It is worth noting that there is no risk warning on the ChiNext, so the ChiNext stocks do not have this step and go directly to the second step.
The second step is to suspend listing. If the actual situation of the stock has not improved, then the stock will enter the link of suspension of listing.
The third step is to terminate the listing. After the conditions for terminating listing are met, the exchange will make a decision on whether or not to terminate listing within 15 trading days from the date of suspension of the listed company.
The fourth step is the delisting period. After the stock exchange has made a decision to terminate listing, 5 trading days (15 trading days on the Growth Enterprise Market) will enter the delisting arrangement period with a period of 30 trading days. Remember, the last trading day of the delisting period is your last time to sell the stock in the secondary market, otherwise, the stock will be delisted the next trading day.
The fifth step is to improve the stock transfer system. The delisting of the stock does not mean that the money is gone, but 45 trading days after the delisting, it enters the old third board (share transfer system) for listing and trading. However, the old third board trading is extremely inactive, and it is not easy to sell stocks, so they can only sell at lower prices.
When a listed company is delisted, the money will not be squandered, but it is almost the same. Maybe you bought it for 5 yuan and bought 10,000 shares with a market value of 50,000 yuan. If the delisting period ends The closing price of the day is 0.5 yuan, and the market value of the holding is only 5,000 yuan. Sometimes we find it strange that some stocks actually reached their daily limit during the last two or three trading days of the delisting period. Why?
In fact, it was only the last madness. I wanted to have the money to make a bet that after the stock was delisted, it would return to the market in a few years. The pheasant became a phoenix and the price doubled. However, ordinary retail investors should not gamble, and even some investors who lack common sense, see the daily limit and chase it in confusion, but don't know that it will be delisted.
I believe that after reading this article, everyone has a basic understanding of the delisting process of listed companies. The most important thing is to hope that you will not participate in the gambling of delisted stocks, and usually invest as much as possible to avoid problem stocks and junk stocks, and stay away from delisting. Risky stocks, do not have a fluke mentality. The capital market is not a god, and will not show mercy to you.