Plan largest industry, chip and semiconductor in China SMIC to write off the same from the New York Stock Exchange, amid the trade war between China and the United States, in the step of finish incorporated as a public company in the United States 15 years ago, with the extension of the trade war into the technology sector.
She said SMIC, based in Shanghai: the resolution is not associated with tensions escalating between the United States and China, but lower trading volume, and the exorbitant costs, adding that they had informed the NYSE of its intention to progress the request on June 3, to delete its shares of stock.
Referred SMIC – in the file submitted to the stock exchange of Hong Kong, where they are listing their shares – to the low trading volumes on its stock, the higher the costs to maintain the listing, and compliance with reporting requirements, and the relevant laws as the reason for the fall.
The statement said: it is expected that the process of voluntary removal after 13 June, the trading of its securities, the U.S. will get to the market outside the stock exchange, the SMIC studied this move for a long time, and has nothing to do with business.
The Council of management of the company on the move, despite the fact that SMIC also need to then implement the plan from the Securities and Exchange Commission (SEC).
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