Wumart to delist shares from HK bourse

Retail chain operator Wumart Stores Inc said on Tuesday that it was delisting its H shares from the Hong Kong bourse amid uncertain market conditions for hypermarkets in China.

It said trading in its shares was halted on Oct 5, at HK$3.27 ($0.42). At that closing price, the total market value of the hypermarket operator was estimated at about HK$1.75 billion, or 1.44 billion yuan ($226.4 million).

Wumart was first listed on the Growth Enterprise Market of the Stock Exchange of Hong Kong Ltd in November 2003. That listing was subsequently transferred to the mainboard of the Hong Kong Stock Exchange on June 30, 2011.