Half a year after being booted off the New York Stock Exchange, China Telecom Corp. has received regulatory approval for a primary share sale in Shanghai that is set to be the world’s biggest so far in 2021.
The plan to raise 54.4 billion yuan ($8.4 billion) on the mainland comes as rising tensions with the U.S. drive Chinese companies back to their local equity markets. China Mobile Ltd., which the NYSE delisted at the same time, is also seeking to sell stock in Shanghai.
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July 22, 2021 at 06:17PM
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China Telecom Set for 2021's Biggest Share Sale After U.S. Ban - Bloomberg
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