Several Chinese state-owned companies to delist from NYSE

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SHANGHAI/HONG KONG, Aug 12 (Reuters) – Several Chinese state-owned companies including China Life Insurance 601628.SS and oil giant Sinopec 600028.SS announced plans on Friday to delist from the U.S. stock market.

The companies, which also include Aluminium Corporation of China (Chalco) 601600.SS and PetroChina 601857.SS, said in separate statements that they would apply for delistings of their American Depository Shares from the New York Stock Exchange (NYSE).

The four will keep their listings in Hong Kong and mainland Chinese.

China and the United States have been in talks to resolve a long-running audit dispute that could result in Chinese companies being kicked off American exchanges if they cannot comply with U.S. audit rules.

The companies were added to the Holding Foreign Companies Accountable Act (HFCAA) list in May after they were identified as not meeting U.S regulators’ auditing standards.

There was no direct mention of the auditing disputes in the companies’ separate statements on Friday.

Each of the four said their U.S. traded share volume was small compared with those on their other major listing venues.

China Life and Chalco said they would file for delisting on Aug. 22, with delisting taking effect 10 days later. Sinopec and PetroChina said their applications would be made on Aug. 29.

(Reporting by Samuel Shen in Shanghai and Scott Murdoch in Hong Kong Editing by Hugh Lawson and David Goodman)

((samuel.shen@thomsonreuters.com; +86 21 20830018; Reuters Messaging: samuel.shen.thomsonreuters.com@reuters.net))

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