China Mobile, China's largest wireless carrier by revenue, plans to raise 48.7 billion yuan (7.64 billion US dollars) from a listing on the Shanghai Stock Exchange, among the largest on the domestic stock market in ten years. >


The China-run company, which was delisted from the New York Stock Exchange earlier this year due to a ban on investment in Chinese companies ordered by former President Donald Trump, said it would issue 845.7 million shares at 57.58 yuan on Wednesday, according to the prospectus. filed for the Shanghai Stock Exchange late Monday.


The revenue that China Mobile is seeking will rival Semiconductor Manufacturing International's launch in Shanghai last year, making it among the top 10 in China, according to data compiled by Bloomberg.


Assuming the allotment option is fully exercised, China Mobile will raise 56 billion yuan ($8.78 billion) from the listing, according to the preliminary prospectus. That would make it the world's second largest this year, after the $13.7 billion IPO of electric pickup maker Rivian Automotive, Bloomberg data shows.


Listed companies in mainland China have raised nearly $80 billion this year, up about 17% from 2020.


The New York Stock Exchange suspended trading in China Mobile shares in January, along with other major state-owned operators: China Telecom and China Unicom Hong Kong Limited. This development came on the heels of an order banning US investments in Chinese companies that the Trump administration has deemed a threat to national security.


China Telecom listed in Shanghai in August, having raised more than $7 billion.