CNOOC to terminate American Depositary Shares Program on February 3

China National Offshore Oil Corporation (CNOOC) announced on Wednesday that the company will terminate its American Depositary Shares (ADSs) Program on February 3, 2022.

According to a filling circulated by CNOOC on Wednesday, the company said that the termination came after the delisting of the company’s ADSs which had taken effect following close of market in New York on October 22, 2021 as well as the company’s delisting of American Depositary Receipts from the Toronto Stock Exchange effective as of December 31, 2021.

As of December 31, the company’s issuance of ADSs reached appropriately 527,000, representing properly 0.1 percent of the company’s total issued shares.

The New York Stock Exchange began the process of delisting CNOOC in February and suspended the trading of its ADSs in early March in 2021.

Source: Global Times

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