China Mobile Ltd, the world's biggest phone carrier by market value, is taking steps to speed up the listing of its shares in the domestic market, Chairman Wang Jianzhou said.
China Mobile has made recommendations to regulators about the listing, Wang told reporters today at the company's annual general meeting in Hong Kong, without elaborating. The carrier will file an application to offer its shares to investors when regulators issue rules for listing foreign-domiciled companies, Wang said.
Wang said he has met with Stephen Green, Chairman of HSBC Holdings Plc, on several occasions to discuss the possible listings of China Mobile and the bank on the mainland. HSBC, Europe's biggest bank, is "ready" to list shares in Shanghai when the Chinese government allows it, Chief Executive Officer Michael Geoghegan said in March.
"We both want to complete the listing," Wang said. "If an international bank is so interested to list in Shanghai, you can imagine that we, as a Chinese company, would be even more so."
The Shanghai Stock Exchange is in the process of drafting rules for the international board, where foreign companies will be allowed to sell shares, the bourse's Chairman Geng Liang said in March.
