China Mobile to Raise 56 Billion Yuan back in the A-share Market

Updated:2021/8/20 14:47

On August 18, the official website of CSRC released the prospectus disclosed by China Mobile. According to the prospectus, China Mobile will issue no more than 965 million yuan-denominated A shares to be listed on Shanghai Stock Exchange.

After deducting the share issuance cost, China Mobile is expected to invest the fund raised in the 5G advanced network construction project, the new infrastructure project for cloud resources, the Gigabit intelligent home project, the intelligent middleground project, R&D of new-generation information technology as well as the digital intelligence ecology project. According to China Mobile, investments in said projects will total up to RMB 156.9 billion, and RMB 56 billion from the raised fund will be invested therein.

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