On May 17, China Mobile announced that the company planned to apply for A-share listing with the public offering of no more than 965 million RMB shares (before exercising the greenshoe option).
According to the announcement, after deducting the cost of issuing, the funds raised by issuing RMB shares will be used for the 5G advanced network project, the cloud resource new infrastructure project, the Gigabit smart home project, the intelligent middle-ground project, R&D of new-generation information technology and the digital and intelligent ecology project.
China Mobile denoted in the announcement that, this return to the A-share market would help it to build the new cooperative mechanism of complementary functions, positive interaction, shared resources and integrated development, accelerate the in-depth layout of digital and intelligent development, prosper the data-intelligence cooperative ecology, and share the digital bonuses with its shareholders, customers and the industry as a whole.