China Telecom, one of China’s three giant telecommunications operators, said yesterday that it plans to list its shares on Shanghai A-list.

China Telecom was delisted from NYSE in January due to the US investment ban on Chinese state-backed companies.

The company proposed to sell up to 12.09 billion shares in Shanghai, or 13% of its total issued share capital after the offering.

The company also reported on Tuesday that its revenue for 2020 grew 4.7% from the previous year to RMB 394 billion (around $60.5 billion) while its net profit grew 1.6% to RMB 20.9 billion.

The other two telecom companies, China Mobile and China Unicom, who shared similar fate because of the ban, are likely to follow suit.