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China Telecom raises $8.4bn in Shanghai months after US delisting

Offering highlights Beijing's resolve to minimize fallout from Washington crackdown

A China Telecom booth at a Beijing exhibition in July 2021. The offering by the world's largest telco will be the mainland's largest listing in a decade.   © Reuters
NARAYANAN SOMASUNDARAM and KENJI KAWASE, Nikkei staff writers | China

HONG KONG -- State-run China Telecom is set to raise 54.2 billion yuan ($8.4 billion) in its maiden share sale in Shanghai, mere months after being forced to delist from the New York Stock Exchange.

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