NYSE plans to drop China Enterprises

NEW YORK (Sept. 24)—The New York Stock Exchange has told China Enterprises Ltd. to will suspend trading of the tire company´s common shares Sept. 27 after the firm's price per share fell below $1 during 30 consecutive days of trading. China Enterprises said it will appeal the NYSE´s decision and is exploring its options. China Enterprises stock closed Sept. 23 at 50 cents a share, compared with its 52-week high of $2. The company previously submitted a business plan to the NYSE intended to bring its market capitalization into compliance with the exchange's minimal requirement of at least $15 million. Formerly known as China Tire e-commerce.com Ltd., China Enterprises is a holding company for a number of joint ventures that manufacture and market tires in China and other countries abroad.