China Mobile Eyes $6 Billion Shanghai Listing After Flagging NYSE Exit Technology News US News


Source: usnews.com usnews.com

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(Reuters) - China Mobile has approved plans for a potential HK$47.08 billion ($6.06 billion) listing in Shanghai, weeks after the telecom firm said it would be delisted by the New York Stock Exchange in line with U.S. investment restrictions dating to 2020. The mainland's largest wireless carrier said on Monday it plans to sell no more than 964.8 million shares, or 4.5% of its total issued shares, publicly on the Shanghai Stock Exchange at an undisclosed price. Shares of the company closed at HK$48.8 on Monday. China Mobile, China Telecom and China Unicom said earlier this month they expect the...