China Mobile and China Netcom plan IPOs (China)
October 15, 2007
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Chinese telecom operators China Mobile and China Netcom are planning to list category A shares in mainland China next year. While China Mobile has appointed China International Capital Corporation to handle its initial public offering (IPO), China Netcom has appointed CICC, Huatai Securities and UBS AG to handle its IPO. The size of the issue will depend on market conditions at the time of listing. Earlier this year, the two operators had planned to raise $300-$400 million each in category A share IPOs.
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