Industry
S&P Dow Jones Indices said late Wednesday that it will remove American Investment Receipts (ADR) of three Chinese telecom companies, China Mobile Ltd ,, China Telecom Corporation Ltd, and China Unicom (Hong Kong) Ltd, from their appraisals.
PHOTO FILE: 5G active antenna units with logos of China Mobile and Huawei can be seen in front of the National People’s Congress (NPC) conference center in Luoyang, Henan Province, China February 27, 2019. REUTERS / Stringer
REUTERS: S&P Dow Jones Indices announced late Wednesday that it will remove American Investment Receipts (ADR) of three Chinese telecom companies, China Mobile Ltd ,, China Telecom Corporation Ltd, and China Unicom (Hong Kong) Ltd ,, from the tokens- their assessment.
“S&P DJI has the news to move forward with the removal of the above ADRs from its indices following the latest confirmation from the New York Stock Exchange that the ADRs will be listed before they open Monday, January 11, 2021, “he said in an emailed statement.
(Reporting by Kanishka Singh and Bhargav Acharya in Bengaluru; Editing by Christian Schmollinger)