Last Updated: December 31, 2020 at 10:10 a.m. ET
First published: December 31, 2020 at 10:07 a.m. ET
China Mobile has been listed on the NYSE since 1997.
AFP / Getty Images
The New York Stock Exchange announced late Thursday that it has begun prosecuting three of the largest Chinese telecommunications companies for complying with an executive order issued by President Donald Trump targeting companies linked to China’s military.
China Mobile Limited CHL, China Telecom Corp. Ltd. CHA and China Unicom (Hong Kong) Ltd. Trading in CHU’s American Depository shares will be suspended on Jan. 7, unless it is Jan. 7 and Jan. 8 will be hanged, in this case trade …
The New York Stock Exchange announced late Thursday that it has begun prosecuting three of the largest Chinese telecommunications companies for complying with an executive order issued by President Donald Trump targeting companies linked to China’s military.
Trading of American Depository shares of China Mobile Limited
CHL
,
China Telecom Corp. Ltd.
CHA
And China Unicom (Hong Kong) Ltd.
CHU
January 7 will be suspended, unless it is guaranteed that deals made on January 7 and 8 will be executed, in which case trading will be January. 11 will be postponed, NYSE said. NYSE said it would provide more information as available.
NYSE said it would apply to the Securities and Exchange Commission to delist the stocks, including any possible appeals, after the completion of the proceedings.
Trump signed the Nov. 12 order banning Americans from investing in a handful of Chinese companies, which the U.S. has banned. Claims to supply the Chinese army.
All three companies dominate China’s mobile business. China Mobile is China’s largest telecom company, with a market cap of about 6 116 billion. It was listed on the NYSE in 1997 with its blockbuster, 4. 2.4 billion IPO. China Telecom has been listed on the NYSE since 2002, with a market cap of about .5 22.5 billion. China Unicom has been listed by NYSE since 2000, with a current market cap of about 18 18 billion.
All three companies are also listed in Hong Kong.
.
