| China Mobile plans mainland share sale in July |
SHANGHAI, June 19 -- CHINA Mobile Ltd plans to proceed on issuing yuan-backed A shares as early as next month, Oriental Morning Post reported today.
As the world's biggest mobile-phone carrier by users, China Mobile may raise up to 80 billion yuan (US$10.48 billion) from the A-share offering, exceeding the largest IPO for a mainland bourse -- 46.64 billion yuan raised by Industrial and Commercial Bank of China, the report said.
A source said the company already hired KPMG for its A-share offering last year and has submitted audition reports and related files to the China Securities Regulatory Commission, the report said.
The Hong Kong-listed company hopes it can list next month, the source said.
China Mobile's mainland spokesperson Gao Songge said: "The company has no news to reveal so far." And its Hong Kong spokesperson said: "The company has no timetable of issuing A shares," according to the report.
China Mobile surged six percent to a record HK$80.35 (US$10.28) per share yesterday in Hong Kong.
China's securities regulator revealed a draft on June 12, wanting so-called red chip companies – those incorporated abroad with assets in China and listed overseas – to sell shares in Shanghai or Shenzhen.
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