{"id":380826,"date":"2021-12-14T12:50:01","date_gmt":"2021-12-14T09:50:01","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/china-mobile-gets-nod-for-shanghai-debut-after-us-delisting\/"},"modified":"2021-12-14T12:50:01","modified_gmt":"2021-12-14T09:50:01","slug":"china-mobile-gets-nod-for-shanghai-debut-after-us-delisting","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/china-mobile-gets-nod-for-shanghai-debut-after-us-delisting\/","title":{"rendered":"#China Mobile gets nod for Shanghai debut after US delisting"},"content":{"rendered":"

“#China Mobile gets nod for Shanghai debut after US delisting<\/strong>”<\/p>\n

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\n \"China
\n China Mobile was delisted in the US along with China Telecom and China Unicom in January following an executive order by former president Donald Trump.
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State-owned China Mobile has received app<\/a>roval to list publicly in Shanghai, documents showed, nearly a year after it was delisted in the United States along with two other Chinese telecom giants as tensions between Beijing and Washington soared.<\/p>\n

China Mobile plans to issue up to 845.7 million shares, according to a prospectus released on the Shanghai stock exchange website on Tuesday, in a move that could raise around $5 billion based on the last closing price of its Hong Kong-listed shares.<\/p>\n

The firm was delisted in the US along with China Telecom and China Unicom in January following an executive order by former president Donald Trump.<\/p>\n

The order banned Americans from investing in a range of companies deemed to be supplying or supporting China’s military and security apparatus.<\/p>\n

Funds raised will go towards building 5G infrastructure, as well as “smart home” projects and other initiatives, the company said. No date for the debut was provided.<\/p>\n

Shares of China Telecom, the country’s biggest fixed-line operator, debuted in Shanghai in August in a listing that raised $7.3 billion.<\/p>\n

China Unicom has listed shares of a subsidiary in Shanghai since 2002.<\/p>\n

Some of China’s biggest tech and telecom firms listed shares on the more developed US stock markets in the 2000s as they sought access to funding.<\/p>\n

But the tide had turned as tensions between Beijing and Washington have soared, with China’s government encouraging companies to list on domestic exchanges as part of a push to keep big tech players closer to home and help develop the country’s capital markets.\n <\/p>\n\n

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China Telecom eyes $8.4 bn Shanghai IPO, world’s biggest in 2021\n <\/p><\/div>\n

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\n \u00a9 2021 AFP<\/p>\n

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Citation<\/strong>:
\n China Mobile gets nod for Shanghai debut after US delisting (2021, December 14)
\n retrieved 14 December 2021
\n from https:\/\/techxplore.com\/news<\/a>\/2021-12-china-mobile-shanghai-debut-delisting.html<\/p>\n

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