On January 10, SMIC announced that on January 9, 2021, the company was notified by OTC Markets Group, the operator of the OTCQX market, that its regulators informed OTC Markets Group that they had changed their position on the effective date of the executive order and now allowed the company's securities to continue trading until February 1, 2021. As a result, OTC Markets Group has canceled its pending deletion procedures for SMICY and SIUIF and plans to resume trading of SMICY and SIUIF on OTCQX before the market opens on January 11, 2021.
According to a previous announcement by SMIC, the content relates to (among other things) restrictions on U.S. persons trading in securities issued by the company and its related derivatives, the executive order issued by the U.S. President on November 12, 2020, and withdrawal from OTCQX.
SMIC stated that if there are any material developments in the above matters, the company will issue further announcements in a timely manner in accordance with the applicable listing rules and laws of the listing place.
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