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China Petroleum and Chemical Corp, the world's biggest oil refiner by capacity, said on Monday it intended to de-list its American Depositary Shares (ADSs) trading on the London Stock Exchange (LSE).
The company, known as Sinopec, noted that the decision was based on factors including the small value, minimal trading volume, and the administrative burden of maintaining the shares' listing status.
The firm said its board had already approved the de-listing of ADSs from the LSE, which is scheduled to take effect on November 1.
Shares of Sinopec fell 1.19 percent at open on the Hong Kong Stock Exchange to 3.33 Hong Kong dollars ($0.47).
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Copyright © 2023 CGTN. 京ICP备16065310号
Disinformation report hotline: 010-85061466