BEIJING, Aug 6 (Bloomberg): China Telecom Corp, one of the three mainland telecom carriers booted off the New York stock exchange, is planning to raise 47.1 billion yuan (US$7.3 billion) from a listing in Shanghai that is set to be the world’s biggest so far this year.
The A-shares were priced at 4.53 yuan apiece, above the company’s book value of 4.49 yuan per share.
The fundraising by China’s largest fixed-line operator is the biggest listing this year globally, exceeding the $6.3 billion initial public offering in Hong Kong by TikTok-rival Kuaishou Technology in February.
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