Chinese operators requested the New York Stock Exchange (NYSE) review its decision to delist their securities, as the companies look for a change in US policy after the departure of President Donald Trump.
In separate filings, the operators called for the exchange to reverse the delistings and delay a suspension in trading of their American Depositary Shares while a review is conducted.
NYSE rules require a review to be scheduled at least 25 business days after a request is submitted.
In its statement, China Mobile explained it complied with market rules and regulatory requirements since its listing in October 1997. It asserted it had operated in accordance with laws and regulations.
NYSE halted trading [1] the securities of the operators on 11 January to comply with a presidential command [2] blocking US investment in companies deemed to be owned or controlled by China’s military.
The order was part of a wider campaign targeting Chinese companies with trade restrictions due national security concerns.
[1] https://www.mobileworldlive.com/featured-content/home-banner/nyse-forges-ahead-with-delisting-chinese-operators
[2] https://www.mobileworldlive.com/featured-content/home-banner/us-blocks-capital-flows-to-chinese-companies
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