China's Three Major Telcos to Keep Stock Listings on NYSE
January 05 2021 - 4:17AM
Dow Jones News
By Martin Mou
China's three largest telecommunications companies said Tuesday
that their shares will continue to trade on the New York Stock
Exchange.
China Mobile Ltd., China Unicom (Hong Kong) Ltd. and China
Telecom Corp. said in separate statements that they have taken note
of the New York Stock Exchange's decision to no longer seek their
delistings.
In a statement released Monday night Eastern time, the Big Board
said "it no longer intends to move forward with the delisting
action" on the three companies.
The Hong Kong-listed shares of the three state-owned firms
surged on the news. Shares of China Mobile, which numbers among the
most valuable of China's listed state-owned enterprises, closed
5.1% higher Tuesday, while China Telecom and China Unicom gained
3.4% and 8.5%, respectively.
Write to Martin Mou at martin.mou@wsj.com
(END) Dow Jones Newswires
January 05, 2021 04:02 ET (09:02 GMT)
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