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China Mobile plans IPO in Shanghai

Telecommunications company China Mobile is planning an initial public offering in Shanghai. At the beginning of the year, the company was excluded from the New York Stock Exchange NYSE. According to a company statement, China Mobile wants to offer 845 million shares at an issue price of ¥57.58 each. According to the prospectus, the total proceeds could amount to the equivalent of $8.8 billion. Should it materialize this year, the IPO would be the world’s second-largest of the year, according to data compiled by Bloomberg.

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