Trading on Primary Market after ASX, page-5

"What's more common than a relisting is that a delisted company goes bankrupt and the delisted stock becomes worthless. The company may be acquired by a private owner out of bankruptcy or be forced to liquidate. The company may also restructure and eventually go public through an initial public offering (IPO), issuing new shares to new shareholders. While the company is the same, the original shareholders generally have their investment wiped out in the bankruptcy."