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China Mobile aims for 52% price premium with Shanghai listing

Country's largest debut share sale 'implements national strategy'

China Mobile Chairman Yang Jie said fundraising was "only a part of our considerations" in making plans to list in Shanghai.   © Reuters

HONG KONG -- China Mobile, the world's largest telecommunications operator by subscribers, aims to fetch a premium of more than 50% as the Hong Kong-listed company sells shares to domestic investors for the first time.

By pricing the new shares that are to trade in Shanghai at 57.58 yuan each, the company is set to raise up to 56 billion yuan ($8.79 billion) if the option to expand the offering is fully exercised. This will make the offering the largest in China this year if it is completed next week, surpassing the 47.9 billion yuan raised by peer China Telecom in August.

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