China Mobile Eyes $7.6B Shanghai Listing After US Delisting

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By Tom Zanki (December 21, 2021, 4:55 PM EST) — China Mobile Ltd. said Tuesday it is planning an estimated $7.6 billion listing in Shanghai, one year after being delisted in the United States, continuing a trend of China-based companies trading closer to home amid U.S.-China tension.

The Beijing-based telecommunications giant said it will offer 845.7 million shares at 57.58 Yuan each, to raise 48.7 billion yuan ($7.6 billion), according to preliminary plans filed with the Stock Exchange of Hong Kong Ltd., where its stock also trades.

China Mobile said the price was determined “based on several factors including the fundamentals of the company, valuation of comparable companies, the industry in…

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