On the afternoon of August 12, China Life, Chalco, China National Petroleum Corporation, Sinopec, and Shanghai Petrochemical Corporation announced simultaneously that they planned to transfer American depositary shares to Delisted from the New York Stock Exchange.
China Life:Plans to delist American depositary shares from the New York Stock Exchange
China Life announced that the company will apply for voluntary delisting of the company’s depositary shares from the New York Stock Exchange in accordance with the provisions of the Securities and Exchange Law,and cancel the depositary shares and their Corresponds to the registration of H shares under the Securities and Exchange Act.
The announcement states that as of the disclosure date of this announcement, the company has issued a notice to the New York Stock Exchange regarding the above matters. The Company intends to file a Form 25 with the U.S. Securities and Exchange Commission (the “SEC”) on or after August 22, 2022 to delist the Company’s depositary shares from the New York Stock Exchange. Such delisting is expected to take effect 10 days after the submission of Form 25. The last date for trading of the depositary shares on the NYSE is expected to be September 1, 2022, or later. After that date, the Company’s depositary shares will no longer be listed and traded on the New York Stock Exchange.
Chinalco:Plans to delist American depositary receipts from New York Stock Exchange
Chinalco announced that the company intends to apply to voluntarily delist its American Depositary Shares from the New York Stock Exchange,and cancel such depositary shares and corresponding foreign ordinary shares in accordance with relevant regulations. Registration of shares.
Sinopec:Plans to delist American Depositary Shares from the New York Stock Exchange
Sinopec announced that the company notified the New York Stock Exchange that it will apply to voluntarily delist its American depositary shares from the New York Stock Exchange in accordance with relevant regulations.
PetroChina:Plans to delist American Depositary Shares from the New York Stock Exchange
China National Petroleum Corporation announced that the company has notified the New York Stock Exchange on August 12, 2022 (US Eastern Time) that the company will, in accordance with the U.S. Securities Exchange Act of 1934 (as amended) and other relevant regulations,Applying to voluntarily delist its American depositary shares (depositary shares) from the New York Stock Exchange.
Shanghai Petrochemical Co., Ltd.: Plans to delist American depositary shares from the New York Stock Exchange
Shanghai Petrochemical Co., Ltd. announced on the Hong Kong Stock Exchange that it plans to delist American depositary shares from the New York Stock Exchange.
CSRC’s response
According to the China Securities Regulatory Commission’s press conference on the 12th, a reporter asked at the meeting: Recently, some Chinese companies have announced the launch of delisting from the United States. What is the China Securities Regulatory Commission’s opinion?
A: We have noticed the relevant situation. Both listing and delisting are normal conditions in the capital market. According to announcements by relevant companies, these companies have strictly complied with U.S. capital market rules and regulatory requirements since they were listed in the United States, and made the choice to delist out of their own business considerations. These companies are listed in multiple places, and the proportion of securities listed in the United States is very small. The current delisting plan It will not affect enterprises’ continued use of domestic and overseas capital markets for financing and development.
The China Securities Regulatory Commission respects the decisions made by enterprises based on their own actual conditions and in accordance with the rules of the overseas listing place. We will maintain communication with relevant overseas regulatory agencies to jointly safeguard the legitimate rights and interests of enterprises and investors.
</p
