Home  Contact Us
  Follow Us On:
 
Search:
Advertising Advertising Free Newsletter Free E-Newsletter
NEWS

NYSE starts move to delist Chinese state oil gaint CNOOC
Published on: 2021-03-01
Share to
User Rating: / 0
PoorBest 

The NYSE (New York Stock Exchange) has announced a decision to commence proceedings to delist the ADRs of CNOOC Limited, China’s largest offshore oil producer.
 

The decision that CNOOC is “no longer suitable for listing” was made in light of Executive Order 13959, which was signed by former President Trump in November 2020, as well as updated guidance provided by OFAC (Office of Foreign Assets Control) in January 2021.
 

The Executive Order banned US persons from investing in companies with ties to the Chinese military. The OFAC guidance said prohibitions on CNOOC, China Mobile, China Telecom, and China Unicom would begin on 9 March 2021, 60 days after they were added to the list that prohibits US investments.
 

Trading in CNOOC’s ADRs will be suspended at 4.00am EST on 9 March 2021, NYSE said, adding that the company has the right to appeal the decision.
 

In January, NYSE announced a decision to delist the ADRs of China Telecom, China Mobile and China Unicom to comply with Executive Order 13959, only to later reverse the decision. The delistings were ultimately enforced, though the three companies applied to NYSE for a review of the decision.
 

突发!中海油遭美国纽交所摘牌,强制退市

当地时间2月26日,美国纽约证券交易所决定,正式启动中国海洋石油有限公司(简称:中海油)美国存托凭证(NYSE:CEO)的正式摘牌程序。
 

纽交所表示,将于3月9日凌晨4点暂停CEO的交易。该所并未公布计划何时完成中海油的摘牌程序。
 

美国前总统特朗普去年11月签署了一项禁止美国人投资“有军方背景的中国企业”的行政令。在中海油被列入投资“黑名单”60天后,针对该公司的投资禁令将于3月9日生效。

Comments (0)Add Comment

Write comment

security code
Write the displayed characters


busy
    Subscription    |     Advertising    |     Contact Us    |
Address: Magnetic Plaza, Building A4, 6th Floor, Binshui Xi Dao.
Nankai District. 300381 TIANJIN. PR CHINA
Tel: +86 22 23917700
E-mail: webmaster@businesstianjin.com
Copyright 2021 BusinessTianjin.com. All rights reserved.