New York Stock Exchange to delist Chinese telco giants on US executive order
- The New York Stock Exchange will delist three Chinese companies to comply with a US executive order
- China Mobile, China Telecom and China Unicom Hong Kong will be delisted between January 7 and January 11
The New York Stock Exchange said it will delist three Chinese companies to comply with a US executive order that imposed restrictions on companies that were identified as affiliated with the Chinese military.
China Mobile, China Telecom and China Unicom Hong Kong will be delisted between January 7 and January 11, and proceedings to delist them have started, according to a statement by the exchange.
Quantitative hedge fund managers including Renaissance Technologies, Dimensional Fund Advisors and Two Sigma Investments LP were among the largest holders in these US listings but the stakes they held at the end of September were small, 13F filings show.
The three companies have separate listings in Hong Kong. All generate the entirety of their revenue in China and have no meaningful presence in the US except for their listings there.
China Mobile, China Telecom and China Unicom Hong Kong did not immediately respond to requests for comment by the South China Morning Post on Friday.