China Unicom announced on July 14 that the company has presented the mixed ownership pilot reform program to the Chinese government and received approval from the National Development and Reform Commission.
Given the reform involving some major issues, the private offering of stock of China Unicom will start with approval from the relevant ministries.
It is expected that China Unicom will carry out the information disclosure of the relevant program as early as July 17 this year because of many related matters and the long processing time.
In order to ensure fair disclosure of information, safeguard the interests of investors and avoid abnormal fluctuations in the share, the Board of Directors of China Unicom requested the company shareholders' meeting to agree with the continuous suspension of the stock for one month since July 17, and achieved a positive reply at the 9th meeting for the 5th Board of Directors.
China Unicom's trading has been halted since April 5 this year and it will promote related approval work to shorten the suspension time as soon as possible, it claimed.