China Mobile plans on raising more than $6 billion in a stock offer in Shanghai some time next month. Some reports characterize the offering as the largest stock offering to take place in China, ever. The final figure will depend on market conditions and regulatory approvals, but many believe it should top the current record figure held by Industrial & Commercial Bank of China, which raised $6.1 billion last year. China Mobile hired KPMG to audit the proposed offering and Goldman Sachs Gaohua Securities to advise on the listing in Shanghai.
For more on China Mobile's plans:
- read this article from CNBR