Five Chinese companies intend to from the US stock delisting of the Securities Regulatory Commission: listing and delisting belong to the normal capital market

Economic Observation Network reporter Liang Ji, August 12, 2022, five listed companies of PetroChina, Sinopec, China Aluminum, China Life, and Shanghai Petrochemicals announced that they would voluntarily voluntarily hold US deposit shares from the New York Stock Exchange. Delist.

According to the PetroChina Announcement, the company has notified the New York Stock Exchange on the 12th of the Eastern Time that it will apply for voluntary US deposit shares from the New York Stock Exchange in accordance with relevant regulations such as the US Securities Trading Law (revised) in 1934 Essence

The announcement stated that PetroChina plans to submit an application for delisting to the SEC on August 29, 2022 or before and after, in order to deliver its deposit shares from the New York Stock Exchange. The final trading date of the deposit stock on September 8, 2022 or around the NYSE is no longer listed on the New York Stock Exchange after this date and since the date.

China Petroleum said that after the deposit shares delist from the New York Stock Exchange, the company continues to retain the trading market of the Stock Exchange and the Shanghai Stock Exchange as the company's shares. Essence

The above -mentioned other companies have also issued an announcement of similar content. The reason for delisting mainly mentioned that the current proportion of deposit stocks occupying the company's H shares and total shares is small, and the transaction volume is lower than the company's global transaction volume. The differences in the rules of the ground supervision have led to the disclosure obligation of continuing to maintain deposit stocks on the NYSE listing. Wait.

On the afternoon of August 12, the person in charge of the relevant departments of the CSRC answered the reporter and said that the relevant situation was noticed. Listing and delisting belong to the normal capital market. According to relevant companies' announcement information, these companies have strictly abide by the US capital market rules and regulatory requirements since the listing of the United States, and make delisting options for their own business considerations. These companies are listed in many places, and the proportion of securities listed in the United States is very small. The current delisting plan does not affect the continued use of domestic and foreign capital market financing and development. "The China Securities Regulatory Commission respects the decision made by enterprises in accordance with its actual situation and in accordance with the rules of overseas listing. We will maintain communication with relevant overseas regulatory agencies to jointly safeguard the legitimate rights and interests of enterprises and investors."

Zhang Aoping, Dean of the Institute of Extraction, told Economic Observation Network that many companies such as Petroleum Petroleum intending to withdraw from the NYSE are the strategy choice of "mainly me" to actively act, and make enough future uncertainty in the future. Preparation. China's industrial structure, business ecology, and western countries are essentially different. Under the current globalization acceleration and ebb to ebb, modern capital markets with comprehensive registration system will support China's market entities better. The role helps it achieve efficient financing development. Therefore, market entities and investors also apply the next five years to look at the current logic to look at the Chinese capital market, which should be more rational and optimistic about the development of China's capital market.

- END -