China Mobile to list on Shanghai exchange
19 June 2007
China Mobile plans to raise more than US$6 billion to list in Shanghai's stock market, the South China Morning Post reported. The proposed funds would exceed the bourse's previous record set by Industrial and Commercial Bank of China (ICBC) at US$6 billion. "We don't have a timeframe for an A-share listing. But that's always been the company's intention," a spokeswoman for the company said. China Mobile began listing preparations late last year. The new funds will be used for the expansion of the China Mobile network and technologies.
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