Investing

Questrade - China Mobile Limited (CHL) Delisting

  • Last Updated:
  • Jan 7th, 2021 8:49 pm
[OP]
Deal Addict
Jul 28, 2006
1430 posts
200 upvotes
Toronto

Questrade - China Mobile Limited (CHL) Delisting

Wondering if anyone has more information about what happens to stocks that are delisted when it comes to Questrade. Received an email from Questrade relating to CHL, saying:

Hi ***,

In accordance with Executive Order 13959, the NYSE has commenced proceedings to delist the securities of the below issuers. The delisting is expected to proceed as soon as January 7th or as late as January 11th. Note that timelines are subject to change without notice.

The below symbols fall under this executive order:

CHL (China Mobile Limited)
CHA (China Telecom Corp Limited)
CHU (China Unicom)

Due to this, EFFECTIVE IMMEDIATELY, these symbols will require a 100% margin requirement and further opening transactions on them have been restricted.

As per the executive order, these symbols will be delisted and cease trading on or before January 11, 2021 (and potentially as soon as January 7).

If you continue to hold a stock or option position once it's delisted, you may be unable to liquidate and the value of your position may be lost. In addition, if you hold an option position you may not be able to exercise it once it's delisted.
I would've thought that the stock would become an OTC or pink slip stock after delisting, but Questrade's email says that the value of the position may be lost? I've tried reaching out to Questrade to clarify this but both their call line and online chat have wait times where I'm on hold for hours with no assistance.
8 replies
Member
Aug 18, 2019
281 posts
202 upvotes
Either HAVE THE PATIENCE to wait for hours to talk to Questrade (I've been there many times and eventually I went thru to finally talk to someone) OR SELL YOUR POSITIONS there. Should be simple enough right? Unless you have other complications?

And in the future don't buy:
1. Chinese stocks cuz those are getting riskier and may get delisted too (CNOOC, Tencent's WeChat, Alibaba's Alipay, etc.) due to extreme human rights and other abuses. You don't wanna panic sell when everybody started selling, do you?
2. Imported Chinese food either cuz their farmland is 20%+ tainted with cancer causing industrial toxic chemicals (Google it)

Juz my 2cents...Winking Face
~ 👍teslanaire2bitcoinaireButStillCheapLurking@RFDForDeals✌️~
Sr. Member
Jun 28, 2018
890 posts
620 upvotes
Toronto
I read some suggestions out there someone may buy out the ADR and close it out - I assume the ADR sponsor. Dunno though.


I'm interested in buying this or bigger China Mobile, but obviously pick it up directly from the HK exchange.
The Distracted Investor

Dividends through quality companies 😃 Though I usually lose money with trades :facepalm:
Sr. Member
Aug 16, 2015
788 posts
286 upvotes
Absolutly rediculous imo. We arnt US citizens either.
Sr. Member
Aug 16, 2015
788 posts
286 upvotes
clueless dude wrote: Either HAVE THE PATIENCE to wait for hours to talk to Questrade (I've been there many times and eventually I went thru to finally talk to someone) OR SELL YOUR POSITIONS there. Should be simple enough right? Unless you have other complications?

And in the future don't buy:
1. Chinese stocks cuz those are getting riskier and may get delisted too (CNOOC, Tencent's WeChat, Alibaba's Alipay, etc.) due to extreme human rights and other abuses. You don't wanna panic sell when everybody started selling, do you?
2. Imported Chinese food either cuz their farmland is 20%+ tainted with cancer causing industrial toxic chemicals (Google it)

Juz my 2cents...Winking Face
Theres Chinese etfs listed on TSX. So many etfs have Chinese stocks. Good luck. They won't be able to do anything. And they already flip flopped.
Sr. Member
Aug 16, 2015
788 posts
286 upvotes
I stand corrected. They are back to delisting them. Double flip flop. Delisting.. not delisting and now back to delisting. Lol.

Not sure why it applies to you tho if youre canadian. You would think canadian brokers might offer a solution like OTC or Hong Kong shares. But I guess we are just americans that still pay commissions as far as the Canadian brokers are concerned!
Penalty Box
Mar 28, 2017
508 posts
340 upvotes
clueless dude wrote: Either HAVE THE PATIENCE to wait for hours to talk to Questrade (I've been there many times and eventually I went thru to finally talk to someone) OR SELL YOUR POSITIONS there. Should be simple enough right? Unless you have other complications?

And in the future don't buy:
1. Chinese stocks cuz those are getting riskier and may get delisted too (CNOOC, Tencent's WeChat, Alibaba's Alipay, etc.) due to extreme human rights and other abuses. You don't wanna panic sell when everybody started selling, do you?
2. Imported Chinese food either cuz their farmland is 20%+ tainted with cancer causing industrial toxic chemicals (Google it)

Juz my 2cents...Winking Face
I wouldn't touch anything from China. Even their honey trap
Member
Aug 18, 2019
281 posts
202 upvotes
johnnyepy666 wrote: I wouldn't touch anything from China. Even their honey trap
Pooh got honey trapped there in China n got locked up Bear Face
~ 👍teslanaire2bitcoinaireButStillCheapLurking@RFDForDeals✌️~
Member
Aug 18, 2019
281 posts
202 upvotes
kilburn305 wrote: I stand corrected. They are back to delisting them. Double flip flop. Delisting.. not delisting and now back to delisting. Lol.

Not sure why it applies to you tho if youre canadian. You would think canadian brokers might offer a solution like OTC or Hong Kong shares. But I guess we are just americans that still pay commissions as far as the Canadian brokers are concerned!

When America prospers, Canada and the whole world prosper. When China prospers, mostly only Chinese and CCP members prosper at the expense of everyone else (i.e. stealing everything all over the world. if cannot be stolen then coerce to have em bought out at cheaper price or get invited into China to setup factories only for CCP spies to copy everything there and setup parallel factory nearby then once tech transfers are complete, start selling competing identical goods and this behaviour is encouraged and sanctioned by CCP obviously)

China can list their stocks in tsx instead of nyse/nasdaq but no they're not interested in having access to cad and only usd interests them cuz it's the world reserve currency afterall....for now
And it's America's rights to list/delist/ban any Chinese companies in the name of national security just like the Chinese ban American ones for that same reason years ago and ensure none of their public companies' accounting data go out to public in the name of state secrets but keep cooking the books to dupe not only American investors but also Canadians too n everybody around the world. This is reciprocity fair n square
~ 👍teslanaire2bitcoinaireButStillCheapLurking@RFDForDeals✌️~

Top