Red Chip China Mobile Ltd may list on the Chinese mainland stock exchange in July, raising up to 80 billion yuan.

The Hong Kong-listed company is waiting approval from the China Securities Regulatory Commission (CSRC) for an A-share issue and has appointed Goldman Sachs Gaohua as the underwriter.

Last week, CSRC reportedly sought comment on draft rules allowing Hong Kong red chips to issue A-shares. China Mobile is expected to be among the first batch of qualified companies to issue A-shares.

(US$1 = 7.62 yuan)