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    China's Sinopec to delist ADSs from LSE

Summary

The LSE delisting, expected to take effect on November 1, has come after Sinopec moved to delist its ADSs from New York in August.

by: Shardul Sharma

Posted in:

Complimentary, Natural Gas & LNG News, Asia/Oceania, Corporate, News By Country, China

China's Sinopec to delist ADSs from LSE

China’s Sinopec has applied for the cancellation of the listing of its American Depositary Shares (ADSs) on the London Stock Exchange, the company said on October 3.

Sinopec cited minimal trading volume and the administrative burden of maintaining the listing of the ADSs on the LSE as the factors behind the decision.

The LSE delisting, expected to take effect on November 1, has come after Sinopec moved to delist its ADSs from New York in August.

The company said it will also consider whether to terminate its ADS programme in due course in accordance with the deposit agreement based on the relevant actual circumstances.