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

Earlier reports predicted that the IPO price for China Mobile will be no lower than its share price on the Hong Kong market, which was HK$75.8 on June 15. Counting with the estimation of China Mobile's P/E ratio on the A-share market, the price will exceed 100 yuan (US$13).

China Mobile's turnover in the first half of this year reached 166.6 billion yuan (US$21.9 billion), a year-on-year rise of 21.6 percent.

The new rules approving Hong Kong-listed Chinese firms to sell shares domestically could pave the way for the return of up to 21 companies, including China Construction Bank (CCB) and petroleum giant China National Offshore Oil Corporation (CNOOC).

China Securities Regulatory Commission announced earlier that it would discuss on Friday CCB's application of offering no more than nine billion shares on China's A-share market but, as yet, has not released the results.

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