The largest Chinese company semiconductor SMIC announces its intention to withdraw from the New York Stock Exchange

أكبر شركة صينية لأشباه الموصلات SMIC تعلن نيتها الانسحاب من بورصة نيويورك

Announced the largest Chinese semiconductor SMIC intention to withdraw its shares from the New York Stock Exchange, where the company would like to submit a request for delisting from Nasdaq in June 3, next according to its announcement released last Friday, ending the march stretched for 15 years as a technical public in the US market.

In accordance with the procedures, laws and tired of writedowns optional pursued by the police they will leave the market after the 10 days of the submission of the application Authority, the stock exchange, where they will focus on the availability in the stock exchange of Hong Kong taking into account the company being receive their support from the government and investors of the Chinese state.

Police denied to have its decision due to any reasons attributed to the prevailing trade relations between the United States and China and a ban on many of the Chinese companies or the crisis of the Huawei Superior Court, but its decision has come based on the volume of trading is small in the shadow of the administrative costs of large incurred.

But it seems that the company does not want its Declaration explicitly that she suffers from tension between the two countries and the escalation of events recently that don’t believe in following; and taking into account that the expansion was always the perimeter of the Chinese companies and their presence in the American market.

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