China Telecom plans to raise funds in Shanghai bourse after New York delisting

//China Telecom plans to raise funds in Shanghai bourse after New York delisting

China Telecom plans to raise funds in Shanghai bourse after New York delisting

China Telecom, the country’s largest fixed-line network operator, plans to sell shares in Shanghai to access wider financing in its home market, months after it was delisted by the New York Stock Exchange (NYSE) under a Trump administration executive order.The Hong Kong-listed company, which is controlled by state-owned China Telecommunications Corp, proposes to issue up to 12.09 billion yuan-denominated shares – equivalent to 13 per cent of the enlarged capital base – on the Shanghai Stock…

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By | 2021-03-10T13:30:18+00:00 March 10th, 2021|Business|Comments Off on China Telecom plans to raise funds in Shanghai bourse after New York delisting