China’s biggest semiconductor foundry is to withdraw from the New York Stock Exchange. SMIC notified the NYSE of its intention to apply on June 3 to delist its American depositary receipts (ADRs) from the bourse.
SMIC cited “a number of considerations,” including the limited trading volume of its ADSs relative to its worldwide trading volume. The board approved the delisting and deregistration, the company said in a filing.
