After years at death’s door, China’s so-called “B” share market may finally be put out of its misery. The 20-year-old experiment is set to be wound down as companies give up on this “zombie” market.
Last month, China International Marine Containers (CIMC) became the first company to convert its Shenzhen-listed B shares into Hong Kong-listed “H” shares.
Two more companies including China Vanke, the country’s largest listed property developer, have since suspended their shares amid expectations they will soon announce similar plans. Deloitte estimates roughly 40 of the 85 companies with B shares are potential candidates for conversion.
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