China Mobile to buy back HK shares following Shanghai listing

5 Jan 2022

Chinese full-service provider China Mobile has confirmed that it will proceed with plans to buy back up to 2.05 billion of its Hong Kong Shares on the Hong Kong Stock Exchange (HKEX) next month. The buyback was authorised Q2 last year but was suspended to enable the company to continue with its planned issue of new shares on the Shanghai Stock Exchange (SSE). Trading of the new shares on the SSE started today (5 January), with the company having announced that the initial listing (excluding the over-allotment option) had raised CNY48.7 billion (USD7.7 billion). The total number of shares to be bought back represents up to 10% of the total number of Hong Kong Shares, worth an estimated USD12.6 billion

China, China Mobile, China Mobile Communications Group