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China Mobile hopes to raise $8.8bn in Shanghai listing

News Snapshot:

The world's largest mobile network operator plans to raise around $8.8 billion in a listing on the Shanghai Stock Exchange. China Mobile was delisted from the New York Stock Exchange earlier this year, along with China Unicom and China Telecom, after a Trump-era decision to restrict investment in Chinese technology firms. Now, China Mobile plans to list in a Shanghai public offering, selling up to 845 million shares for a total of 56 billion yuan ($8.8bn). The listing is expected to be the biggest in mainland China for the past decade. The company said that funds raised will go towards…

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