The New York Stock Exchange said Wednesday in its latest update that it continues to exclude China Telecom (00728), China Mobile (00941) and China Unicom (00762) from its U.S. listings on the main board.
The firm said the second change in decision was due to new guidance from the U.S. Office of Foreign Assets Control (OFAC) that as of Jan. 11, the U.S. public could not conduct certain transactions with the three companies. The issuers have been notified that trading in their securities will be suspended as of 4:00 a.m. EST on Jan. 11, 2021.
Following the NYSE’s updated decision, China Mobile shares in the U.S. fell 3.5 percent in pre-market trading; China Telecom fell more than 4 percent; and China Unicom fell 1 percent.
In fact, this is the second time the exchange has made a U-turn. on Dec. 31, 2020, the NYSE announced that it was delisting three Chinese telecom operators, but on the 5th of this month it suddenly issued a statement saying that it did not intend to proceed with the process.
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