Sinopec to Delist ADSs From London Stock Exchange
02 Octubre 2022 - 7:38PM
Noticias Dow Jones
By Yifan Wang
China Petroleum & Chemical Corp. said it has applied to
delist its American Depositary Shares from the London Stock
Exchange, the latest move by a major Chinese state-owned company to
scale down ADS activities amid the ongoing U.S.-China tensions.
The company, better known as Sinopec, said Monday that the
delisting decision was based on factors including the small value,
minimal trading volume, and the administrative burden of
maintaining the shares' listing status.
The London delisting, expected to take effect on November 1,
2022, has come after Sinopec moved to delist its ADSs from New York
in August.
"The Company will also consider whether to terminate its ADS
programme in due course," it said.
Write to Yifan Wang at yifan.wang@wsj.com
(END) Dow Jones Newswires
October 02, 2022 20:23 ET (00:23 GMT)
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