China Mobile IPO application approved

December 14, 2021

On the evening of the 13th, the Securities Regulatory Commission announced that it had approved China Mobile Co., Ltd. (hereinafter referred to as "China Mobile") in accordance with legal procedures. The company and its underwriters will negotiate with the exchange to determine the issuance schedule and publish the prospectus documents.

In the early morning of the 14th, China Mobile announced that it plans to publicly issue no more than 845.7 million A shares of common stock, that is, no more than 3.97% of the company's total issued shares after the issuance (before the over-allotment option is exercised).

The company expects that this year's revenue will be about 84.8758 billion yuan, a year-on-year increase of about 10%-11%; the net profit attributable to the parent is about 1143.07-1164.64 billion yuan, a year-on-year increase of about 6%-8%.

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