China Unicom (Hong Kong) Limited (the “Company”) was listed on the New York Stock Exchange (stock code: CHU) and the Stock Exchange of Hong Kong Limited (stock code: 762) on 21 June 2000 and 22 June 2000 respectively.
The former US President issued an executive order 13959 (the “Executive Order”) on 12 November 2020, and subsequently the US Department of Treasury’s Office of Foreign Assets Control issued the guidance. The Executive Order and the guidance prohibit any transaction by any US person in publicly traded securities (including, among others, derivatives thereof) of certain Chinese companies, including the Company. The New York Stock Exchange (“NYSE”) staff determined that, based on the Executive Order and the guidance, it commenced the process to delist the Company’s American Depositary Shares (the “ADSs”) and suspended trading in the Company’s ADSs from 11 January 2021. In order to protect the interests of the Company and its shareholders, on 20 January 2021, the Company filed with the NYSE a written request for a review of the Determination by a Committee of the Board of Directors of the NYSE. On 6 May 2021, the Committee affirmed the determination to delist the Company’s ADSs. On 7 May 2021, NYSE filed a Form 25 with the US Securities and Exchange Commission to strike the Company’s ADSs from listing and registration. The delisting of the Company’s ADSs was effective 18 May 2021.
Since its listing in 2000, the Company has complied strictly with the laws and regulations, market rules as well as regulatory requirements of its listing venues, and has been operating in accordance with laws and regulations. The Company was disappointed by the Executive Order and NYSE decisions, which led to a negative impact on the trading prices of its ordinary shares and ADSs and harmed the interests of the Company and its shareholders. The Company will continue to pay close attention to the development of related matters and seek professional advice and reserve all rights to protect lawful rights of the Company.
The Bank of New York Mellon is the depositary for the Company’s ADSs. Holders of ADSs may return the ADSs to The Bank of New York Mellon in exchange for ordinary shares of the Company with each ADS returned to be exchanged into 10 ordinary shares of the Company in accordance with the terms and conditions of the deposit agreement. The Company’s ordinary shares are traded on the Hong Kong Stock Exchange. In view of the delisting of the Company’s ADSs from the NYSE effective 18 May 2021, holders of the ADSs may consult with their professional advisers or the Bank of New York Mellon regarding the exchange of the ADSs into ordinary shares of the Company.
The contact details of the Bank of New York Mellon are as follows:
Shareholder Services, P.O. Box 505000, Louisville, KY 40233–5000
1-888-269-2377 (toll free in USA)