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|Wednesday, June 06, 2001, updated at 09:21(GMT+8)|
China Mobile Eyes A-share MarketChina Mobile (Hong Kong) is considering entering the domestic A-share stock market after it was listed in Hong Kong and New York, Wang Xiaochu, chairman of the company revealed.
As the listing branch of China Mobile, the dominant mobile telecom operator, it has become the most influential stock in the Hong Kong Stock Exchange.
¡°The company is waiting for approval from the securities authorities for the domestic listing in the form of CDR (China depository receipts),¡± Wang said in the roadshow for the company's 5 billion yuan (US$603.8 million) corporate bond.
CDR refers to the domestic listing method for those companies which were incorporated overseas.
If given government approval, China Mobile (HK) would be listed as a whole instead of spun off in parts, said Wang.
Going back to the domestic capital market will give mainland investors an opportunity to buy the stocks of the rapidly growing telecom company.
Two of the country's main mobile operators, China Mobile and China Unicom, were listed overseas, which deprived domestic investors of the opportunities to buy telecom stocks.
China Unicom had said earlier that it was also planning to go public in the domestic stock market.
¡°The domestic listing will be a boost to the companies' business as the stock buyers are more likely to adopt their services,¡± said Jim Lin, chief telecom analyst of Frost & Sullivan, a US-based research house.
He said the listing will link the investors with the service subscribers and will help increase the companies' subscriber base.
He forecast that both China Mobile and China Unicom's A shares will become hot property in the domestic market, as China's stock traders have long desired the profit-rich telecom stocks.
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