US
China operators ask NYSE to reverse delistings
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, writes Joseph Waring.
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 the securities of the operators on 11 January to comply with a presidential command 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.
Joseph Waring joins Mobile World Live as the Asia editor for its new Asia channel. Before joining the GSMA, Joseph was group editor for Telecom Asia for more than ten years.
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