China China Eastern Airlines and China Southern Airlines announced the delisting from

China's two major airline giants Oriental Airlines and Southern Airlines have announced the delisting from the New York Stock Exchange on Friday (January 13).

Eastern Airlines issued an announcement on Friday night, saying that the company notified the New York Stock Exchange on January 13, Eastern time, and the company intends to apply for voluntarily withdrew its US deposit securities shares from the New York Stock Exchange, and in accordance with regulationsThe registration of these depository shares and corresponding foreign shares (H shares).

Eastern Airlines said that it is intended to submit a form 25 form 25 to the American Stock Exchange Fair Around January 23. The delisting application is expected to take effect after 10 days of submission of Table 25, and the deposit shares at the end of the New York Stock Exchange transactionsThe date is February 2nd or around 2023.

On the same night, Southern Airlines also issued an announcement that applied for voluntary company deposit shares from the NYSE, and revoked these depository shares and its corresponding H shares under the securities trading law item.register.Southern Airlines predicts that the last date of deposit shares in the New York Stock Exchange is expected to be February 2 or after.

Both airlines believe that the trading volume of US deposit shares is limited compared to the global transaction volume of overseas ordinary shares.Funding demand for financing.

The US deposit stock refers to the ownership certificate issued by foreign companies that the trustee of the United States in the United States and the US dollar pricing.According to U.S. law, the registered place for companies to issue ordinary shares in the United States must be in the United States. Non -American registered companies can only adopt the way of deposit stocks to enter the US securities market.

Bloomberg reported that although the Sino -US audit supervision cooperation agreement was successfully signed last August, US officials have obtained key progress on the audit documents of China Enterprise last month, and it is still impossible to stop the withdrawal of Chinese capital from the US capital market.The wave of city.In the past two years, eight Chinese central enterprises have delisted from US stocks, including three major telecommunications companies China Mobile, China Unicom, China Telecom, and China Petroleum, Sinopec, China Life, China Aluminum, Shanghai PetrochemicalEssence

The China Securities Regulatory Commission once stated that listing and delisting are the normal capital market. Since the listing of these companies, these companies have strictly abide by the US capital market rules and regulatory requirements since the listing of the United States.consider.