China Mobile may sell shares in mainland
16 March 2007
The world's largest wireless carrier, China Mobile, is looking at selling shares on a domestic stock exchange, the South China Morning Post reported. "We will try our best to have China Mobile listed in the A-share market," said Fan Fuchun, vice-chairman of the mainland's stock regulator. He did not give a timeline. China Mobile submitted an application for domestic listing of Chinese depositary receipts about five years ago, said Rainie Lei, a China Mobile spokeswoman. The China Securities Regulatory Commission is encouraging mainland companies traded in Hong Kong to list in Shanghai and Shenzhen to improve the quality of those bourses. One analyst told the newspaper that a China listing could temporarily dampen China Mobile's price but the effect would not be long-lasting.