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China Mobile surges in Shanghai debut | The Manila Times

News Snapshot:

SHANGHAI: China Mobile shares soared more than 9 percent on Wednesday in their debut on the Shanghai stock exchange after the telecoms giant was delisted in New York amid tensions between Beijing and Washington. The stock jumped as much as 9.4 percent before quickly pairing those gains and was more than 3 percent higher an hour into trading. The share offer is expected to raise $8.8 billion after the company exercises an overallotment option, Bloomberg News said, making it the largest on China's domestic stock markets in more than a decade. China's largest wireless carrier by revenue was removed from…

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