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- China Mobile, the world's largest mobile network operator, aims to raise as much as $8.8bn (£6.7bn) when it lists its shares in Shanghai. The company was kicked off the New York Stock Exchange due to rules imposed during Donald Trump's presidency. It joins a growing number of US-listed Chinese firms that are exiting Wall Street.
www.bbc.com/news/business-59737199China Mobile to raise up to $8.8bn in Shanghai share listing
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Jan 4, 2021 · When it comes to China Mobile, the situation is even more intense. The delisting will happen on January 11, and shareholders, as far as I understand, will have until November to divest their...
- It's Too Risky to Hold State-Backed Chinese Companies
- The Order Won't Hurt The Three Telecom Companies
- Retreating to Otc and Overseas Markets Isn't An Option
- Don't Count on President-Elect Biden to Undo The Order
- Should Investors Sell Their Chinese Telecom Stocks Now?
It's unclear if China Mobile, China Telecom, and China Unicom actually have connections to the Chinese military, but they are all certainly state-backed enterprises. Last December, President Trump approved a new law that would delist all foreign companies that can't prove they aren't controlled by a foreign government. If a company fails to do so t...
The shares of China Mobile, China Telecom, and China Unicom that trade on the NYSE are merely fragments of their subsidiaries. According to China's Securities Regulatory Commission, the NYSE-listed ADR shares of all three telecom companies represent just 2% of the respective companies' outstanding shares, so the de-listings won't hurt their core bu...
Some investors likely assume the delisted stocks would simply be moved to an OTC (over-the-counter) exchange, where they could continue trading, or they could trade their ADRs for Hong Kong-listed shares. However, the new law targeting China's state-backed enterprises specifically bars delisted Chinese companies from retreating to OTC markets. It a...
If you believe President-elect Biden will undo the executive order after he takes office on Jan. 20, the three telecom stocks might look like tempting investments with their low P/E ratios and high dividend yields. But I doubt this will happen, for two reasons. First, the new law targeting China's state-backed enterprises was passed with bipartisan...
I personally own shares of China Mobile, and I previously promoted it as a stable dividend stock with a low valuation. However, the rapidly shifting situation indicates it's time to close this position and stick with safer domestic dividend stocksinstead. I'll need to take a loss here, but it's better than getting stuck with a frozen position that ...
Jan 5, 2022 · China Mobile shares have risen as they started trading in Shanghai after raising $7.7bn (£5.7bn) in China's biggest public offering in a decade. The shares opened 9.4% higher before ending...
Dec 21, 2021 · China Mobile, the world's largest mobile network operator, aims to raise as much as $8.8bn (£6.7bn) when it lists its shares in Shanghai. The company was kicked off the New York Stock...
Jan 4, 2022 · Markets. China Mobile Ltd will buy back up to $12.6 billion worth of its Hong Kong listed shares on the market, as the company prepares for its 48.7 billion yuan ($7.7 billion) listing in...
Dec 21, 2021 · The Chinese telecom giant announced Tuesday that it wants to raise as much as 56 billion yuan ($8.8 billion) on the Shanghai stock exchange after it was forced to quit Wall Street in...
Dec 14, 2021 · (Bloomberg) -- China Mobile Ltd., the country’s largest wireless carrier by revenue, has received approval from regulators to list in Shanghai after being removed from the New York Stock...
