New York exchange moves to delist CNOOC's American depositary shares as Trump-era executive order kicks in
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The New York Stock Exchange (NYSE) announced its decision to delist CNOOC Limited next month, effectively erasing one of the most prominent symbols of China's embrace of global capitalism from the world's largest capital market.
CNOOC Limited, a unit of China National Offshore Oil Corporation (CNOOC), would stop trading in New York on March 9 to comply with a November 20 executive order by former US President Donald Trump banning US investment in companies with purported ties to the Chinese military, as the oil company's American depositary shares (ADSs) were "no longer suitable" for listing, NYSE said.