NYSE to commence proceedings to delist China Zenix Auto shares
The New York Stock Exchange announced that the staff of NYSE Regulation has determined to commence proceedings to delist the American depositary shares, each representing four ordinary shares, of China Zenix Auto International Limited -- ticker symbol ZX -- from the NYSE. Trading in the company's ADSs will be suspended immediately. "The determination to delist the company was based on an investigation conducted by NYSE Regulation that brought to light the existence of events that made further dealings or listing of the securities on the Exchange contrary to the public interest and not in keeping with sound public policy...The company has a right to a review of this determination by a Committee of the Board of Directors of the Exchange. The NYSE will apply to the Securities and Exchange Commission to delist the ADSs upon completion of all applicable procedures, including any appeal by the company of the NYSE Regulation staff's decision," NYSE stated.