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China Mobile IPO may come as early as July
(China Daily)
Updated: 2007-06-25 13:21
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China Mobile, the world's largest cellular phone operator, is planning a
multibillion-dollar share sale in Shanghai as early as next month to
attract domestic investors, sources familiar with the situation said last
Monday.
Hong Kong's Chinese-language newspaper Apple Daily, citing an unnamed
Chinese mainland source, said the deal could raise as much as 80 billion
yuan.
It will likely be the biggest initial public offer (IPO) of equity ever
in China's domestic markets, exceeding Industrial & Commercial Bank of
China's 46.6 billion yuan IPO in Shanghai last year, the banking sources
said.
China Mobile hired KPMG to audit its proposed Shanghai listing late last
year. It has also hired Goldman Sachs Gaohua Securities to advise on its
Shanghai listing, the sources said.
(For more biz stories, please visit Industry Updates)
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