“The British don’t understand China,” Zhang Jimin, chairman and chief executive officer at West China Cement, has told reporters in Hong Kong. “Our shares have been severely undervalued,” he said.
The Shaanxi-based cement producer plans to delist from London’s Alternative Investment Market AIM blaming British investors’ ignorance on the value of the stock. Alternatively, it is looking to raise up to HK$1.39 billion $179 million through an initial public offering in Hong Kong where Chinese companies are popular bets for investors.
The company plans to delist from the London’s junior trading board on August 23 and start trading in Hong Kong the same day.
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