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China Mobile plans mainland market listing via CDR

(Xinhua)
Updated: 2009-05-20 12:00

China Mobile, the country's leading mobile carrier by subscribers, is preparing for listing in China's mainland A-share market, Wang Jianzhou, chairman of the company said Tuesday.

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The Hong Kong-listed company plans to get back to the mainland market "as early as possible" by way of issuing China Depositary Receipts(CDRs), Wang said after attending the company's annual shareholder meeting.

The company had been listed in Hong Kong and New York for nearly 12 years and is eager to seek a listing on the mainland as early as possible so that domestic investors could have a chance to invest in the company, he said.

By issuing CDRs, the company could maintain consistency with its operations in the other two markets in terms of management, supervision and information disclosure, Wang said.

The H-share price of China Mobile rose 2.6 percent to HK$74.15 on Tuesday.