China Life Insurance coverage Firm Restricted – InsuranceNewsNet – Insurance coverage Information Web

August 17, 2022 By admin

BEIJING, Aug. 12, 2022 /PRNewswire/ – China Life Insurance coverage Firm Restricted (the “Firm“) (NYSE: LFC; SSE: 601628; HKSE: 2628) proclaims immediately that the Firm has notified the New York Inventory Change (the “NYSE“) on August 12, 2022 (Jap Time within the U.S.) that it’s going to apply for the voluntary delisting of its American depositary shares (“ADSs“) from the NYSE and the deregistration of such ADSs and underlying abroad listed shares (the “H Shares“) below the U.S. Securities Change Act of 1934, as amended (the “Change Act“), attributable to various issues, together with the restricted buying and selling quantity of its ADSs relative to the worldwide buying and selling quantity of its H Shares, and the appreciable administrative prices of sustaining the itemizing of the ADSs on the NYSE, the registration of the ADSs and the underlying H Shares below the Change Act and complying with the periodic reporting necessities and associated obligations of the Change Act.
The Firm intends to file a Type 25 with america Securities and Change Fee (the “SEC“) on or after August 22, 2022 to delist its ADSs from the NYSE. The delisting of the ADSs from the NYSE is predicted to turn out to be efficient ten days thereafter. The final day of buying and selling of the ADSs on the NYSE is predicted to be on or after September 1, 2022.  From and after that date, the ADSs of the Firm will not be listed and traded on the NYSE.
As soon as the delisting has turn out to be efficient and the standards for deregistration have been glad, the Firm intends to file a Type 15F with the SEC to deregister the ADSs and the underlying H Shares below the Change Act. Thereafter, the entire Firm’s reporting obligations below the Change Act will likely be suspended until the Type 15F is subsequently withdrawn or denied. Deregistration and termination of the Firm’s reporting obligations below the Change Act are anticipated to turn out to be efficient 90 days after its submitting of Type 15F. As soon as the Type 15F is filed, the Firm will publish the knowledge required below Rule 12g3-2(b) of the Change Act on its web site, https://www.e-chinalife.com.
The Firm intends to terminate its ADS program after delisting its ADSs from the NYSE sooner or later in accordance with the deposit settlement. The Firm doesn’t intend to hunt an inventory or registration on a nationwide securities change within the U.S. or citation of the H Shares within the U.S. after the termination of its ADS program and the deregistration of its ADSs and the underlying H Shares. H Shares of the Firm will proceed to be traded on The Inventory Change of Hong Kong Restricted (the “Hong Kong Inventory Change“). The Firm will proceed to adjust to its info disclosure and different obligations as a listed issuer below the related guidelines of the Hong Kong Inventory Change and the Shanghai Inventory Change in addition to different relevant legal guidelines and laws.
The Firm reserves its rights in all respects, for any purpose, to delay or withdraw the aforementioned filings previous to their effectiveness and can subject any additional announcement if required below the itemizing guidelines or different relevant legal guidelines and laws.
Cision View authentic content material:https://www.prnewswire.com/news-releases/china-life-insurance-company-limited-301604914.html
SOURCE China Life
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