China Mobile exercises greenshoe option amid high demand for Shanghai offering

China Mobile Ltd. has exercised the greenshoe option in its blockbuster Shanghai offering, issuing an additional 126.9 million shares amid high investor demand. The additional shares, issued at the previously-disclosed offering price of 57.58 yuan each, will bring the telco’s Shanghai listing proceeds to a total of CNY56.00 billion ($8.79 billion), making it one of the largest equity fundraisings so far this year.

China Mobile
941,
+1.93%
said on Friday that online orders for its share sale were over 1000 times oversubscribed and all overallotment shares were issued to online investors. The Chinese telcom giant’s domestic listing comes amid rising uncertainties for its overseas shares, after the New York Stock Exchange moved to delist its stock earlier this year to comply with an investment ban introduced by former President Donald Trump.

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