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Telecommunication

China Telecom to list on Shanghai market after NYSE eviction

Chairman cites 'rare strategic opportunity' to capitalize on investor interest

Trading of China Telecom's depositary shares, along with those of peers China Mobile and China Unicom, was suspended by the New York Stock Exchange on Jan. 11.   © Reuters

HONG KONG -- China Telecom said Tuesday that it has applied to list its shares in Shanghai, following on the heels of its suspension by the New York Stock Exchange two months ago.

The state-owned network operator, which has its primary listing in Hong Kong, said it aimed to sell up to 13.91 billion yuan-denominated shares in Shanghai.

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