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.
The Wall