On the evening of the 7th, China Telecom, China Mobile and China Unicom all announced that the NYSE decided to keep the company's depository shares in the market on May 6, local time.
Prior to this, the three major operators applied for reconsideration of the delisting, and the NYSE maintained the delisting decision, which means that the three major operators will withdraw from the United States. However, the proportion of shares of the three major operators listed in the US stock market is very low, and the trading of their depository shares has been suspended at 4:00 a.m. us time on January 11.
It is revealed that the New York Stock Exchange is expected to inform us regulators about delisting in the future. The delisting is expected to take effect 10 days after the New York Stock Exchange formally submitted relevant documents to the securities and Exchange Commission.
At present, the three major operators have less shares listed in the US stock market, and the trading of their depository shares has been suspended before.
In April this year, China Telecom's application for returning to A-share listing has been formally accepted by China Securities Regulatory Commission.
In January this year, a spokesman for the China Securities Regulatory Commission (CSRC) answered a reporter's question on the New York Stock Exchange's initiation of delisting procedures for three Chinese telecom operators. The three Chinese companies have issued American Depository Receipts (ADRs) and been listed on the New York Stock Exchange for nearly or more than 20 years. They have always abided by the rules and regulatory requirements of the U.S. securities market and are generally recognized by global investors.
According to a spokesman for the China Securities Regulatory Commission, the status of the United States as an international financial center depends on the trust of global enterprises and investors in the inclusiveness and certainty of its rules and regulations. For the above three companies, they completely ignore the actual situation of relevant companies and the legitimate rights and interests of global investors, seriously undermining the normal market rules and order.
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