Company to Deregister American Depositary Shares Amid Low Trading Volume
BEIJING, CHINA, August 12, 2022 – Aluminum Corporation of China Limited (“Chalco” or the “Company”) has informed the New York Stock Exchange (“NYSE”) of its intent to voluntarily delist its American Depositary Shares (ADSs) and deregister these shares along with the underlying H Shares under the U.S. Securities Exchange Act of 1934. This decision was made due to various factors, including a relatively low trading volume of ADSs compared to the global trading volume of H Shares, as well as the significant administrative burdens and costs involved in maintaining the NYSE listing and compliance with U.S. Securities and Exchange Commission (SEC) regulations.
The Company’s Board of Directors has approved this move, and Chalco plans to submit a Form 25 to the SEC around August 22, 2022, to initiate the delisting process. This delisting is anticipated to be effective ten days following the Form 25 submission, making September 1, 2022, the final trading day for the ADSs on the NYSE. Post-delisting, the future trading of Chalco’s ADSs in the over-the-counter market will depend on the actions of shareholders and third parties.
Once the delisting is finalized, Chalco will apply to deregister the ADSs and H Shares by filing a Form 15F with the SEC, which will suspend its reporting obligations under the Exchange Act unless the filing is revoked or rejected. The expected effectiveness of this deregistration will be 90 days post-Form 15F submission. Necessary information required under Rule 12g3-2(b) will be made available on the Company’s website.
Chalco also intends to wind down its ADS program following the NYSE delisting in accordance with the deposit agreement. The Company retains the right to postpone or withdraw these filings if necessary and will make further announcements as required.
ABOUT CHALCO:
Chalco is a prominent player in China’s non-ferrous metal industry, recognized globally as a leading aluminum manufacturer and operator, with integrated operations that include resource exploration, production, and international trade.
CAUTIONARY STATEMENT:
This announcement contains forward-looking statements as defined by the U.S. Private Securities Litigation Reform Act of 1995. These statements are based on current expectations and involve risks that could result in actual outcomes differing significantly from projected results.