China telecom companies ask NYSE to review decision to delist ADS from wisepowder's blog

China’s three largest telecommunication companies Thursday said that they have asked the New York Stock Exchange to review its decision to delist their American depositary receipts.To get more China latest news, you can visit shine news official website.
China Mobile Ltd., China Unicom (Hong Kong) Ltd. and China Telecom Corp. said separately that they have filed a written request with the NYSE to reverse its “determination to re-commence delisting proceedings of ADSs."Former U.S. President Donald Trump had signed an executive order in November prohibiting Americans from investing in a group of Chinese companies that the U.S. said supplied and otherwise supported China’s military, intelligence and security services.
That order included the three telecom companies. However, on Jan. 5 the three Chinese companies said their shares would continue to trade on the New York Stock Exchange following the Big Board’s decision that it didn’t intend to move forward with the delisting action on the three companies.
But two days later the companies said that NYSE had determined to re-commence the delisting proceedings.
“Since its listing in October 1997, the company has complied strictly with the laws and regulations, market rules as well as regulatory requirements of its listing venues, and has been operating in accordance with laws and regulations," China Mobile said.
China Unicom and China Telecom, whose ADS have been listed since 2000 and 2002, respectively, also said that they were in conformity with the laws and regulations of the U.S.

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