China’s biggest chip maker, SMIC, to withdraw from New York Stock Exchange as trade spat with US spills over to tech sector

//China’s biggest chip maker, SMIC, to withdraw from New York Stock Exchange as trade spat with US spills over to tech sector

China’s biggest chip maker, SMIC, to withdraw from New York Stock Exchange as trade spat with US spills over to tech sector

China’s biggest maker of semiconductors is to withdraw from the New York Stock Exchange as the increasingly ferocious trade war with the US spills over into the technology sector.Semiconductor Manufacturing International Corp (SMIC) said on Friday evening it has notified NYSE of its intention to apply on June 3 to delist its so-called American depositary receipts from the bourse. In a filing to the Hong Kong stock exchange, where its shares are listed, SMIC cited low trading volumes of its ADRs…

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By | 2019-05-24T12:43:23+00:00 May 24th, 2019|Technology|Comments Off on China’s biggest chip maker, SMIC, to withdraw from New York Stock Exchange as trade spat with US spills over to tech sector