China Telecom Corporation Limited’s RMB47.094 Billion A-Share IPO

King & Wood Mallesons advised China International Capital Corporation Limited throughout the listing process.

On 20 August 2021, China Telecom Corporation Limited (HKG: 0728) was successfully listed on the main board of Shanghai Stock Exchange. China Telecom issued 10,396,135,267 shares, raising a total of about RMB 47.094 billion. If the over-allotment options are fully exercised, the figure would reach 11,955,555,267 and the total funds raised would reach about RMB 54.159 billion.

This IPO has set many market records: the largest A-share IPO in the past 10 years, the largest telecoms IPO in the world in the past 20 years, and the fifth largest IPO in the history of the A-share market.

China Telecom is a large-scale and leading integrated intelligent information services operator in the world, dedicated to providing flexible, diversified, convenient, high-quality, safe and reliable comprehensive intelligent information services for customers (To C), households (To H) and businesses/governments (To B/G). 

The KWM team was led by partner Li Yuanyuan (Picture) and counsel Cong Qunji, with support from Chen Dongxu, Cao Chao, and other team members.

Involved fees earner: Chao Cao – King & Wood Mallesons; Chen Dongxu – King & Wood Mallesons; Cong Qunji – King & Wood Mallesons; Li Yuanyuan – King & Wood Mallesons;

Law Firms: King & Wood Mallesons;

Clients: China Telecom Corporation Limited;

Sonia Carcano

Author: Sonia Carcano