The New York Stock Exchange reversed its plan again yesterday and announced it will delist the three Chinese Telecom Companies per the original plan announced on New Year’s Eve according an article in the WSJ. So China Mobile (CHL), China Telecom (CHA) and China Unicom (Hong Kong) Limited (CHU) will be delisted between January 7 and 11. More details on the delisting can be find in my earlier post:
You can find additional info on the latest reversal in the below WSJ piece:
- NYSE Reverses Course Again, Will Delist Three Chinese Telecom Stocks, WSJ, Jan 6, 2021
Related articles:
- What to do when an ADR is delisted from NYSE or NASDAQ
- What the Delisting of Chinese ADRs Means for Investors, WSJ
- Factbox: Trump administration measures against Chinese companies, Reuters
The journal also noted that the US is considering adding Alibaba Group Holding Ltd.(BABA) and Tencent Holdings Ltd (TCEHY) to the delisting list. BABA fell over 5% yesterday and has a market cap of over $589.0 billion.
Currently over 200 Chinese firms trade on the US markets with a total market cap of over $2.2 Trillion.
Disclosure: No Positions
