New York Stock Exchange to delist major Chinese oil company on March 9
In compliance with an executive order by former US President Donald Trump, the New York Stock Exchange (NYSE) will move to delist CNOOC Ltd., the Chinese oil major“Trading in American depository shares of CNOOC will be suspended at 4 am ET on March 9,” the NYSE said in a statement.It’s the fourth Chinese company to be slapped with such a punishment.The exchange said in January that it would end trading of shares in China Mobile, China Telecom and China Unicom to comply with Trump’s order targeting companies that the previous administration said had links to the Chinese military.CNOOC’s Hong Kong-listed shares dropped 1.1 per cent on Monday.The Big Board’s regulatory arm determined that CNOOC was ‘no longer suitable for listing’ in light of the executive order, which Trump signed in Novembe...