On January 6, Semiconductor Manufacturing International Corporation issued an "Announcement on Withdrawal from OTCQX (Over-the-Counter Market in the United States)". The announcement stated that the company received a notice from OTC Markets Group, the operator of the OTCQX market, that it would be withdrawn from the OTCQX market at the end of trading on January 6, 2021, in accordance with executive orders and relevant regulatory guidelines.
The announcement reads: Reference is made to the announcement of Semiconductor Manufacturing International Corporation (the "Company") dated December 4, 2020, regarding (among other things) restrictions on U.S. persons from trading in securities issued by the Company and their related derivatives and the executive order issued by the President of the United States on November 12, 2020 (the "Executive Order").
After the Company's American Depositary Shares ("ADSs") were delisted from the New York Stock Exchange in 2019, the Company's ADSs were traded on the OTCQX market (a financial market for over-the-counter securities in the United States). On January 6, 2021, the Company was notified by OTC Markets Group, the operator of the OTCQX market, that in accordance with the Executive Order and related regulatory guidance, the Company will be delisted from the OTCQX market at the close of trading on Wednesday, January 6, 2021, and the Company's securities (SIUIF, SMICY) will no longer be eligible for quotation or trading on the OTC Link ATS.
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