Original title: China Mobile’s A-share listing is not surprisingly popular among central SOEs
Operator Finance Kang Zhao/Text
On the evening of December 23, China Mobile issued an announcement, disclosing the results of the strategic placement of A-shares IPO. 19 strategic investors received a total of 422 million shares, accounting for 49.90% of the total issuance before the “Green Shoes”, and the total subscription amount was up to 24.3 billion yuan. This shows that China Mobile’s A-share listing has received enthusiastic support from strategic investors, and there is no suspense about the IPO. Why is China Mobile’s listing so lively?
China Unicom’s mixed reform in 2017 was not as easy as China Mobile this time. At that time, China Unicom did everything possible and relied on the personal charm of then chairman Wang Xiaochu to introduce 14 strategic investors. Of course, this mixed reform was very successful, and Unicom’s performance rebounded that year and became a strong mark in China Unicom’s performance book.
Compared with China Telecom’s return to A-share listing, China Mobile’s return of A-share investors has more subscription funds, and the winning rate is lower. Prior to this August, China Telecom completed the purchase and listing of new A shares. At that time, the winning rate of online issuance was 0.956%, while the winning rate of China Mobile’s A shares was only 0.12%. In other words, shareholders are more enthusiastic about China Mobile’s A-share listing.
The issue price of China Mobile’s return of A shares is 57.58 yuan per share, and it is expected to raise 56 billion yuan. In fact, it is not much different from the 54.159 billion yuan of China Telecom’s return of A shares. However, China Mobile’s revenue and profits are several times that of China Telecom, which is why China Mobile has a high subscription rate.
A bunch of central enterprises are optimistic about China Mobile’s return to A shares and become strategic investors. Among them, large central enterprises such as State Grid, National Energy Group, China Electric Power, China FAW, SDIC, and China Energy have received a total of 137 million shares. , Accounting for 32.51%. Insurance institutions such as China Life, PICC, Taiping Life, and China Post Life have received a total of 113 million shares, accounting for 26.75%.
This is mainly because the central enterprises now attach importance to investment and financial management, and all have investment companies. China Mobile has a large plate, suitable for investment by central enterprises, and can obtain a return on investment.
In the first half of 2021, the company’s operating income reached 443.6 billion yuan, a year-on-year increase of 13.8%, of which main business income reached RMB 393.2 billion, a year-on-year increase of 9.8%, an increase that exceeded the industry average. Net profit reached 59.1 billion yuan, a year-on-year increase of 6.0%. This kind of performance is rarely seen in central enterprises, so except for the 2019 central enterprise assessment, China Mobile has dropped to 9th. In the remaining years, China Mobile was either the first or second or third in the central enterprise assessment. Rarely are not in the top three.
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