(Xinhua)
Updated: 2007-09-07 20:55

China Mobile, the country's largest mobile phone operator, is now actively preparing for listing on the mainland stock market, Friday's Shanghai Securities News reported.

However, there is still no timetable for its listing on the yuan-denominated A-share market, Wang Jianzhou, board chairman of China Mobile, was quoted as saying.

In June, China's securities regulator was reported to have drawn up rules on how Chinese firms registered and listed in Hong Kong, better known as red chips, can sell shares on the nation's booming domestic stock markets.

Some media reports have suggested the scheme has been suspended but Wang Jianzhou said the company had not received any official notification to ask it to halt the A-share listing plan.

He didn't reveal how many shares China Mobile is set to issue or the possible share price.

Earlier reports said China Mobile had chosen Goldman Sachs Gaohua as the underwriter for the listing, from which the company plans to raise no more than 80 billion yuan (US$10.5 billion).

Insiders say that domestic institutional and individual investors will have more investment opportunities if China Mobile chooses the form of IPO for the A-share listing instead of the CDR form.

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