The New York Stock Exchange will move forward with delisting three Chinese telecommunications companies targeted by an executive order from President Trump, reversing course yet again after the NYSE said earlier this week that it wouldn’t delist them.
The NYSE said Wednesday that trading of the U.S.-listed shares of China Mobile Ltd. CHL -5.69% , China Telecom Corp. CHA -3.81% and China Unicom (Hong Kong) Ltd. CHU -1.95% would be suspended at 4 a.m. ET on Monday. Mr. Trump’s order seeks to ban trading in securities of companies that the administration says have links to the Chinese military.
The NYSE said its latest action came after it received “new specific guidance” from the Treasury Department’s Office of Foreign Assets Control on Tuesday, which listed the three companies’ American depositary receipts as being covered by Mr. Trump’s order. The NYSE’s statement also noted that the companies could appeal the delisting decision to the exchange.
https://www.wsj.com/articles/nyse-reverses-course-again-will-delist-three-chinese-telecom-stocks-11609945817
The New York Stock Exchange will move forward with delisting three Chinese telecommunications companies targeted by an executive order from President Trump, reversing course yet again after the NYSE said earlier this week that it wouldn’t delist them.
The NYSE said Wednesday that trading of the U.S.-listed shares of China Mobile Ltd. CHL -5.69% , China Telecom Corp. CHA -3.81% and China Unicom (Hong Kong) Ltd. CHU -1.95% would be suspended at 4 a.m. ET on Monday. Mr. Trump’s order seeks to ban trading in securities of companies that the administration says have links to the Chinese military.
The NYSE said its latest action came after it received “new specific guidance” from the Treasury Department’s Office of Foreign Assets Control on Tuesday, which listed the three companies’ American depositary receipts as being covered by Mr. Trump’s order. The NYSE’s statement also noted that the companies could appeal the delisting decision to the exchange.
https://www.wsj.com/articles/nyse-reverses-course-again-will-delist-three-chinese-telecom-stocks-11609945817
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