China Mobile reportedly revealed it is reviewing listing its shares on a mainland stock market in response to being removed from the New York Stock Exchange (NYSE) in January.
Yang Jie, chairman of Hong Kong-listed China Mobile, said during an earnings [1] call the secondary listing in China would “help it unlock value and boost development”, The Hong Kong Standard reported.
The operator’s domestic rivals China Telecom and China Unicom were also delisted from NYSE [2] as the US enacted an executive order signed by former President Donald Trump which blocked investment in companies deemed to be owned or controlled by China’s military.
Two weeks ago, China Telecom reportedly said it was considering an A-share listing.
Rising tension between China and the US, along with restrictions on access to the latter’s capital markets have spurred many Chinese tech companies [3] to seek mainland or Hong Kong listings.
[1] https://www.mobileworldlive.com/asia/asia-news/china-mobile-highlights-5g-gains
[2] https://www.mobileworldlive.com/asia/asia-news/china-operators-ask-nyse-to-reverse-delistings
[3] https://www.mobileworldlive.com/asia/asia-news/baidu-wins-approval-for-secondary-listing-in-hk
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