China Mobile Plans to Raise up to $8.8 billion in Shanghai Share Listing
China Mobile Plans to Raise to $8.8 billion in Shanghai Share Listing
China Mobile is the largest Mobile Operator company in the world and now it is planning to increase growth worth of $8.8 billion when it will list all its shares in Shanghai Stock.
During the ruling of the former President of America ‘Donald Trump’, the company was kicked off from the New York Stock Exchange. The reason behind this was the rules and regulations that were imposed by the President. And in the next number, it marks its presence, the list of Chinese Firms that was Exiting Wall Street.
The three companies were shortlisted for the delisting from the Stock Exchange, the decision taken by Donald Trump and the main objective was to restrict the Chinese technology companies. And the policies that were made by the former President are still unchanged in the ruling of the new President Joe Biden.
Many other small rivalries of the company ‘China Mobile’ have setups their market in their own country.
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Main Points
- China Mobile Company aims to raise as much as $8.8 billion on the Shanghai Stock Exchange.
- The rules and regulations for the New York Stock Exchange made by former President Donald Trump are still unchanged on Joe Biden’s ruling.
- On Monday, The Chinese Artificial intelligence start-up has relaunched its share sale in the Hong Kong Share Sale. The startup is well known as Sense Time Group.
As the money fight between both the county is going on the news comes out when the listing was pulled after the American firms were banned from investing in the Chinese market.
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Washington Obligations
The Washington regulatory marked, the Sense Group as an accused as they are developing facial recognition software to determine people’s ethnicity and the main focus of the start-up is to identify ethnic Uyghurs.
In the response to the obligation which was made by the US government against them, it said “Our group’s product and service are intended to the civilian and commercial users and not for any military application”.
Now the Sense Time is going to introduce the share in the Hong Kong stock exchange and planning to start its working from 30th December onwards.
After facing a huge obstacle in the development of business many Chinese firms have decided to leave the New York stock exchange, this month Chinese ride-hailing giant Didi Global said that it planned to take his all shares off from the New York Stock exchange and move to Hong Kong Stock exchange.
The hot atmosphere is evolved when the US market Watchdog unveiled the strict rules, especially for the Chinese firms.
The company said that “Following careful research, the company will immediately start delisting from the New York Stock Exchange and start preparation for listing in Hong Kong”.
