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China Telecom shares surge over 40% in Shanghai debut

August 21, 2021
Source: cgtn.com cgtn.com
News Snapshot:
Share Copied China Telecom, the country's second-largest mobile operator, saw shares surging over 40 percent on its debut in Shanghai on Friday, just months after the company quit the U.S. stock exchange. The telecom giant raised 47.1 billion yuan ($7.3 billion) in Shanghai, the world's largest listing since last July's $7.6 billion by Semiconductor Manufacturing International Corporation and the biggest A-share listing PetroChina's $8.9 billion in Shanghai in 2007. The company's shares opened 5.7 percent higher above its offer price of 4.53 yuan and went up more than 40 percent to hit an intraday high of 6.52 yuan later in...
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