A major Chinese chipmaker is delisting from NYSE but says it has nothing to do with the trade war [CNBC]
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Source: CNBC
Major Chinese chipmaker delisting from the NYSE, but says it has nothing to do with trade war One of the biggest Chinese chipmakers is delisting from the New York Stock Exchange amid the trade war, but the company said the decision is not related to the intensifying tensions between the United States and China. Semiconductor Manufacturing International The motivation for the withdrawal is that the company's ADR listing in the U.S. sees "low trading volume and high costs," Semiconductor Manufacturing told CNBC. The company's main listing is in Hong Kong. "SMIC has been considering this migration for a long time and it has nothing to do with the trade war and Huawei incident," a spokesperson from Semiconductor Manufacturing told CNBC. "The migration requires a long preparation and timing has coincided with the current trade rhetoric, which may lead to misconceptions." A spokesperson from NYSE declined to comment on the company's delisting. There was speculation that the company's move
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