China unicom was suspended on the NYSE in January and since then I haven’t been able to sell my shares and they haven’t been transferred. As China unicom now trades on the Hong Kong exchange, will our shares be transferred to them or will the shareholding be closed down and sold? I’ve not been able to do anything with them for 9 months, how long does trading 212 usually wait to make a decision on delisted companies? Thanks!
I have the same problem, they still don’t know when they will be able to trade these shares. Don’t understand why they can’t sell it over the counter. Also we are not us citizens so we should be allowed to trade Chinese stocks. Unbelievable very disappointed with T212
Do you understand how markets work?
The stock traded on the NYSE. The NYSE delisted said stock on the exchange.
No one can trade this stock on any broker on the NYSE as it is no longer listed. It does not matter where you are from. It’s like saying a stock could be listed on the London Stock Exchange, but UK residents can not buy it.
You had a short window to sell the stock between the announcement from the NYSE to the effective date of the delisting and did not for whatever reason. I would take this as a learning experience so not to repeat going forward.
At best, I would raise a ticket with 212 and ask them politely to sell down the HK listed shares and transfer you cash. This would be manual in nature and would require assistance from Interactive Broker. Ask them if they could expedite given the fact you did not sell in time prior to the delisting and it has been what, effectively 11 months and you would like to close out this open issue with your currently illiquid stock position. If not ask them what other action they would recommend.
China Unicom Hong Kong Ltd. has been liquidated and positions were be closed at 5.153572 USD per share. Additionally, we’ve sent notification to affected shareholders and also, the result after the position closure is visible in the History → Orders tab.
On a side note, we’ve listed the possible outcomes on such occasions, you can check the article here from our Help Centre.
Can shareholders sell there remaining shares? Just asking because never had shares in a company which has been liquidated before.
The message there says they’re being sold for you.