Asian Tech Press (Nov 05) -- The application of China Mobile for listing on the Shanghai Stock Exchange was approved by the China Securities Regulatory Commission.

China Mobile intends to issue no more than 965 million A-shares publicly and raise 56 billion yuan (US$8.75 billion).

According to the prospectus previously published by China Mobile, China Mobile's operating revenue in the first three quarters was 648.6 billion yuan, up 12.9% year-on-year, of which, communications services revenue was 572.9 billion yuan, up 9.0% year-on-year. Profit attributable to shareholders was 87.2 billion yuan, up 6.9 percent from the same period last year.

In addition, in the first half of 2021, China Mobile's communications services revenue reached RMB 393.2 billion, up 9.8% year-on-year, a ten-year high growth rate, and new business revenue reached RMB 80.1 billion, up 38.3% year-on-year.