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China Unicom Keeps Stocks Halted

Updated:2017/4/20 15:33

China Unicom (A-share holding company) announced on April 18 that its controlling shareholder China United Network Communications Ltd. will use the A-share holding company as a platform for the mixed ownership reform business, and the later has suspended trading since April 5.

China Unicom has been asking the Chinese government about this. The company plans to introduce strategic investors through private offerings of shares. However, the specific implementation plan involves prior approval procedure of multiple government authorities with uncertainties.

The company will keep its trading suspended since April 19 after application, and will show the project progress and the suspension or resumption of the stock in 5 trading days (including the suspension day) since the date of suspension.

 Source:C114
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