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China’s Sinopec intends to de-list ADSs from London Stock Exchange
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(Reuters) – China Petroleum and Chemical Corp, the world’s biggest oil refiner by capacity, said on Monday it intended to de-list its American Depositary Shares (ADSs) trading on the London Stock Exchange (LSE).
(Reuters) – China Petroleum and Chemical Corp, the world’s biggest oil refiner by capacity, said on Monday it intended to de-list its American Depositary Shares (ADSs) trading on the London Stock Exchange (LSE).
The firm, known as Sinopec, said its board had already approved the de-listing of ADSs from the LSE, which are intended to take effect on Nov. 1.
(Reporting by Harish Sridharan in Bengaluru; Editing by Subhranshu Sahu)
The London Stock Exchange (LSE) is one of the largest stock exchanges in the world, where shares of publicly traded companies are bought and sold. It plays a crucial role in the global financial market.
American Depositary Shares (ADSs) are a way for foreign companies to list their shares on U.S. stock exchanges. Each ADS represents a specific number of shares in the foreign company.
Corporate governance involves the systems and processes that direct and control a company. It includes the practices that ensure accountability, fairness, and transparency in a company's relationship with its stakeholders.
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