Caixin
Dec 25, 2021 03:29 AM
BUSINESS

China Mobile Boosts Share Sale to be World’s Second Largest in 2021

The NYSE suspended trading in China Mobile in January, along with the Asian nation’s other major state-owned operators
The NYSE suspended trading in China Mobile in January, along with the Asian nation’s other major state-owned operators

(Bloomberg) — China Mobile Ltd., the country’s largest wireless carrier by revenue, is set to raise $8.78 billion from its Shanghai listing, making it the world’s second largest offering this year — thanks in part to state support.

The state-run company, which was removed from the New York Stock Exchange earlier this year due to an investment ban ordered by former U.S. President Donald Trump, will exercise its over-allotment option for the offer due to strong demand from domestic retail and state investors, according to a Shanghai bourse filing.

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