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China Update: State-owned giants seek to delist from the New York Stock Exchange
On August 12, 2022, after the close of the regular session of the Stock Exchange of Hong Kong, PetroChina, China Petroleum & Chemical Corporation, also known as Sinopec, Sinopec Shanghai Petrochemical, Aluminum Corporation of China, also known as Chalco, and China Life Insurance announced that they had notified the New York Stock Exchange (“NYSE”) that they are will apply for delisting of their American depository shares (“ADSs”) from the NYSE. It is expected that the American Depository Receipt (“ADR”) programs will be terminated between September 1 and October 16, 2022, and the ADSs issued under ... (full story)
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