China Mobile was removed from the New York Stock Exchange following an executive order by former president Donald Trump
SHANGHAI – China Mobile shares soared more than nine percent on Wednesday in their debut on the Shanghai stock exchange after the telecoms giant was delisted in New York amid tensions between Beijing and Washington.
The stock jumped as much as 9.4 percent before quickly paring those gains and was more than three percent higher an hour into trading.
The share offer is expected to raise $8.8 billion after the company exercises an over-allotment option, Bloomberg News said, making it the largest on China’s domestic stock markets in more than a decade.
China’s largest wireless carrier by revenue was removed from the New York Stock Exchange last year along with fellow state-owned telecoms…
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