{"id":148917,"date":"2022-01-05T02:27:59","date_gmt":"2022-01-05T02:27:59","guid":{"rendered":"https:\/\/precoinnews.com\/?p=148917"},"modified":"2022-01-05T02:27:59","modified_gmt":"2022-01-05T02:27:59","slug":"china-mobile-shares-rise-in-shanghai-trading-debut","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/markets\/china-mobile-shares-rise-in-shanghai-trading-debut\/","title":{"rendered":"China Mobile shares rise in Shanghai trading debut"},"content":{"rendered":"
FILE PHOTO: A sign of China Mobile is seen on a street in Shanghai, China January 4, 2022. REUTERS\/Aly Song<\/figcaption>

SHANGHAI (Reuters) -China Mobile Ltd shares gained on their Shanghai debut on Wednesday after the company raised 48.7 billion yuan ($7.64 billion) in China\u2019s biggest public share offering in a decade.<\/p>\n

The stock opened at 63 yuan, 9.4% higher than the offer price of 57.58 yuan, and was last trading 3.3% higher at 59.45 yuan.<\/p>\n

The Hong Kong-listed shares were up 3.8% in early trade. The company said in a filing Tuesday that it would press ahead with a plan to buy back up to 2.05 billion shares, worth nearly $13 billion.<\/p>\n

The carrier\u2019s debut is being closely watched after a number of Chinese companies including BeiGene Ltd recently saw shares fall below their offering prices on the first day of trade.<\/p>\n

The world\u2019s largest mobile network operator by total subscribers, China Mobile had sold 845.7 million shares at 57.58 yuan each in Shanghai.<\/p>\n

China Mobile has said it plans to use proceeds from the offering to develop projects including premium 5G networks, infrastructure for cloud resources and intelligent ecosystems.<\/p>\n

($1 = 6.3721 yuan)<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

FILE PHOTO: A sign of China Mobile<\/p>\n","protected":false},"author":3,"featured_media":148916,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23054],"tags":[],"yoast_head":"\nChina Mobile shares rise in Shanghai trading debut - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/markets\/china-mobile-shares-rise-in-shanghai-trading-debut\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"China Mobile shares rise in Shanghai trading debut - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"FILE PHOTO: A sign of China Mobile\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/markets\/china-mobile-shares-rise-in-shanghai-trading-debut\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2022-01-05T02:27:59+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2022\/01\/China-Mobile-shares-rise-in-Shanghai-trading-debut.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/markets\/china-mobile-shares-rise-in-shanghai-trading-debut\/\",\"url\":\"https:\/\/precoinnews.com\/markets\/china-mobile-shares-rise-in-shanghai-trading-debut\/\",\"name\":\"China Mobile shares rise in Shanghai trading debut - 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