NYSE to Delist 3 Largest Chinese Telecoms to Comply with U.S. Executive Order
Posted on 01/01/2021
To comply with U.S. President Donald Trump’s executive order that was signed on November 12, 2020, the New York Stock Exchange announced it has begun delisting proceedings with the three largest Chinese telecommunications. This is due to these companies being affiliated with China’s military.
The trading of American depositary shares of China Mobile Limited (ticker: CHL), China Telecom Corporation Limited (ticker: CHA), and China Unicom (Hong Kong) Ltd. (ticker: CHU), will be suspended January 7, 2021 unless it can be confirmed that trades executed January 7 and January 8 will be executed, in which case trading will be suspended January 11, according to the NYSE.
The three companies have separate listings in Hong Kong and generate the entirety of their revenue in China.
