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China Mobile Slated for Shanghai IPO

Updated:2021/11/2 13:51

Later Friday (October 29) CSRC announced the date of China Mobile's planned listing on Shanghai's main board — November 4.

The company plans to publicly issue no more than 965 million A shares, which does not exceed 4.5% of the company's total issued shares after the issuance, along with the over-allotment option to issue an additional 15% of shares for raising 56 billion Yuan, as revealed in the A-share prospectus published on August 18. This time, China Mobile may surpass China Telecom and become the largest A-share IPO in the past 10 years.

Yang Jie, Chairman of China Mobile, said, China Mobile's return to A-share market would promote the company's transformation and evolution while enabling customers to benefit from the company's growth and development. "Since domestic customers are in the vast majority of our customer count, we will see a full overlap between capital market and customer market if we return."

 Source:C114
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