China Telecom set for 2021's biggest share sale after US ban

The plan to raise 54.4 billion yuan ($8.4 billion) on the mainland comes as rising tensions with the US drive Chinese firms back to their local equity markets

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Bloomberg

1 min read Last Updated : Jul 24 2021 | 1:09 AM IST

Half a year after being booted off the New York Stock Exchange, China Telecom has received regulatory approval for a primary share sale in Shanghai that is set to be the world’s biggest so far in 2021.

The plan to raise 54.4 billion yuan ($8.4 billion) on the mainland comes as rising tensions with the US drive Chinese firms back to their local equity markets. “Chinese companies coming home will be a trend given the current political tensions between US and China and tightened regulatory rules,” said Dickie Wong, executive director of research at Kingston Securities.

“High-growth companies are left with no

Topics : China United States Telecom companies

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