One of China’s biggest oil companies, CNOOC Ltd. 883, -4.29%, plans to raise $4.41 billion from a Shanghai listing, after its shares were delisted from the New York Stock Exchange.

The state-owned company is selling a total of 2.6 billion shares for 10.80 yuan (US$1.70) a share, it said Monday.

If the company exercises an over-allotment option, which is an additional 390 million shares, the total amount raised from the domestic offering will be $5.07 billion.

CNOOC ‘s share sale–like a recent megadeal by China Mobile–shows that China’s corporate champions are able to access large pools of capital back home if needed, blunting the impact of being exiled from American markets.

In January, China Mobile Ltd., which was also booted from the NYSE last year, had raised close to $9 billion in a Shanghai stock-offering. China Mobile’s 600941, -1.01% offering followed a similar fund raising by its peer China Telecom Corp. 601728, -1.00% last May.

The NYSE began the process of delisting CNOOC and other Chinese companies in February 2021, and the American depositary receipts of some companies were delisted from the NYSE in October.