China’s three largest requested the New York Stock Exchange (NYSE) to consider reversing their delisting, which stemmed from an executive order from former US President Donald Trump who has stepped down.
The South Morning China Post reported, China Mobile, China Telecom and China Unicom asked for a delay in the suspension of their American depository shares while their review is being processed. The NYSE must review a case in 25 business days after receiving a request.
China Mobile said to the Hong Kong Stock Exchange: “Investors are cautioned that there is no assurance that the company’s review request ad stay request will be successful.”
The NYSE ceased trading shares of the three operators on January 11 after Donald Trump issued an executive order to stop US investments into companies deemed to be in collusion or control by the Chinese military.
Confusingly the bourse flip-flopped on its decision in the space of days.