3 Chinese companies seek to review their delisting from the New York Stock Exchange


The telecom companies “China Unicom Hong Kong”, “China Mobile” and “China Telecom” asked the New York Stock Exchange to review its decision to cancel its US certificates of deposit.

The companies stated that the review that the New York Stock Exchange will conduct is scheduled within 25 days of their disclosures issued on Wednesday, and that they have requested the validity of the suspension of trading on their shares until the conclusion of the result.

The New York Stock Exchange, after volatility, canceled the three Chinese telecom companies earlier this month, following an executive order issued by former US President Donald Trump, which banned Americans from investing in public companies that Washington considers related to the Chinese military.

The US embargo had wider repercussions for companies, as US investors quickly sold their stakes and index companies removed stocks from their benchmarks.

Index firms MSCI, FTSE Russell and Standard & Poor’s Dow Jones removed telecom companies from their benchmarks this month, wiping out $ 5.6 billion of the combined value of their shares traded in Hong Kong.

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