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China Mobile to list in Shanghai as NYSE eviction takes effect

Telecom leader could raise up to $7bn on mainland exchange, joining two rivals

China Mobile says that its planned Shanghai listing will "grasp the window of opportunity" to develop the company's information services market.   © Reuters

HONG KONG -- China Mobile, the largest telecommunications carrier in the world by subscribers, said it will list its shares in Shanghai following the company's forced delisting from the New York Stock Exchange.

The company, whose shares also are listed in Hong Kong, announced late on Monday that its board had approved a plan to issue new yuan-denominated shares that will trade on the main board of the Shanghai Stock Exchange. The company is planning to issue up to 964.81 million shares, or 4.5% of the expanded shareholder base.

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