Summary by Moomoo AI
China Telecom Corporation Limited (“China Telecom”) has completed the initial public offering of A Shares on the Shanghai Stock Exchange and is listed on the Shanghai Stock Exchange. The issue was priced at RMB 4.53 per share, and the final issue reached 10,574,770,378 shares and the total amount raised was approximately RMB 479 billion. NET FUNDRAISING WAS APPROXIMATELY RMB 475 BILLION AFTER DEDUCTING ISSUANCE FEES. CHINA INTERNATIONAL FINANCIAL CO., LTD. AND CITIC CITIC JIAN SECURITIES CO., LTD., AS JOINT SPONSORS, HAVE COMPLETED THE CONTINUING SUPERVISION OF CHINA TELECOMMUNICATIONS AND THE CONTINUING SUPERVISION PERIOD WILL END ON DECEMBER 31, 2023. During the ongoing supervision, China Telecom was able to fulfill its information disclosure obligations in a timely and accurate manner, and to ensure the dedicated storage and specialized use of the funds raised without any violations of the use of the fundraising funds. The report confirms that China Telecom complies with relevant laws and regulations in relation to fundraising management, company operating regulations and information disclosure.