China Mobile prepares for mainland listing

2 Jan 2007

China Mobile is planning a stock market listing on the Chinese mainland, writes CellularNews quoting unconfirmed press reports. The cellco is currently listed on the Hong Kong and New York stock exchanges, but is preparing the ground for a Yuan denominated IPO sometime in the first half of this year. Although the firm declined to provide details – saying it is awaiting instructions from the country’s Securities Regulatory Commission – its president, Wang Jianzhou, earlier confirmed Mobile’s plans for a mainland listing in May 2006. It is understood that a home listing would give its customers and mainland investors a chance to share the company’s profits.

China, China Mobile