China Mobile eyes possible return to A-share market

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A sign of China Mobile is seen at CES (Consumer Electronics Show) Asia 2016 in Shanghai, China, May 12, 2016. Photo: Reuters/Aly Song

China Mobile, one of three big state-owned telecommunication operators in the nation, is considering a return to the mainland market through the China Depositary Receipt, said Shang Bin, chairman of the company, The Paper reported.

According to Shang, the company which is currently listed in Hong Kong, can consider the CDR plan after the regulator issues clear guidelines. The main idea is to allow its 900 million domestic users to “share the fruits of growth.”

The incoming CDR could give domestic investors a route to Chinese firms listed outside mainland China, which is part of a broader effort by the Chinese government to bring home domestic tech giants like Baidu, Alibaba and Tencent.

According to the previously announced trial plan, overseas listed Chinese companies that are eligible to issue CDRs should have a market value of at least 200 billion yuan (US$31.41 billion).

Meanwhile, China Mobile will not rule out the possibility that subsidiaries could return to the A-share market for IPOs, Shang added.

Source

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