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11 March 2021 8:27 GMT Updated 11 March 2021 9:10 GMT in Singapore
CNOOC Ltd has asked the New York Stock Exchange to review its decision to delist the American depositary shares of the Chinese operator in order, it says, to protect the lawful rights of the company and its shareholders.
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The delisting move by the bourse is part of a clampdown started by the previous US administration of ex-president Donald Trump on entities with alleged links to the Chinese military.
NYSE to suspend CNOOC Ltd trading within days
The New York Stock Exchange has commenced proceedings to delist CNOOC’s US depositary shares 2 March 2021 7:22 GMT Updated 2 March 2021 7:22 GMT in Singapore
Chinese offshore operator CNOOC Ltd has said it regrets the decision by the New York Stock Exchange (NYSE) to delist the company’s American depositary shares after Washington late last year added the company to the list of entities with links to the Beijing government.
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HONG KONG/ SHANGHAI (Reuters) - Wall Street firms in Hong Kong including Goldman Sachs and JPMorgan on Monday moved to reduce exposure to Chinese telecom companies named in a U.S. ban on investments in companies Washington considers linked to China’s military.
FILE PHOTO: A floor trader walks during afternoon trading at the Hong Kong Stock Exchange in Hong Kong, China September 26, 2016. REUTERS/Bobby Yip
Goldman Sachs, JPMorgan and Morgan Stanley said in filings to the Stock Exchange of Hong Kong that they were beginning steps to terminate 500 Hong Kong-listed structured products they issued to investors with links to values of telecom companies China Mobile, China Telecom and China Unicom or local indexes including the Hang Seng Index - whose components include the telecom companies.