NYSE to Delist Three Chinese Telecom Companies

The New York Stock Exchange will be delisting three Chinese telecom companies in guidance with United States investment restrictions formulated last year.

The three Chinese companies to be affected include: China Telecom Corp. (HKG: 0728), China Mobile Ltd (HKG: 0941) and China Unicom (HKG: 0762). While giving a joint public statement, the three companies said they are expecting NYSE to give a notification to regulators concerning their delisting.

News of these companies getting delisted started circulating last year, the companies says they have repeatedly appealed for the delisting but in vain.

The three companies say this delisting will be effective 10 days after NYSE files for a form 25 with the United States Securities and Exchange Commission.

The delisting move started after former United States President Donald Trump decided to crack the whip on Chinese technology companies during heightened trade war between United States and China during the time his term in office.

Leave a comment

Your email address will not be published.