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New York exchange moves to delist CNOOC s American depositary shares as Trump-era executive order kicks in
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The New York Stock Exchange (NYSE) announced its decision to delist CNOOC Limited next month, effectively erasing one of the most prominent symbols of China s embrace of global capitalism from the world s largest capital market.
CNOOC Limited, a unit of China National Offshore Oil Corporation (CNOOC), would stop trading in New York on March 9 to comply with a November 20 executive order by former US President Donald Trump banning US investment in companies with purported ties to the Chinese military, as the oil company s American depositary shares (ADSs) were no longer suitable for listing, NYSE said.