China Telecom will offer 986 million shares restricted for sale in an initial public offering

2022-07-09 0 By

CWW February 16, China Telecom issued the announcement of “listing and circulation of the off-line allotment limited Shares of the INITIAL public offering”.The notice shows that the restricted shares available in this listing are 986,228,087 shares, accounting for 1.08% of the company’s total share capital and involving 6,287 shareholders (including 6,281 investors in the off-line offering and 6 underwriters of this offering).The lock-up period of the limited shares shall be 6 months from the date of listing of the Company’s A-shares in Shanghai Stock Exchange, and the lock-up period shall expire and be listed and circulated on February 21, 2022.On August 20, 2021, China Telecom listed on the Shanghai Stock Exchange with an initial public offering of RMB ordinary shares (A-shares) of 10,396,135,267 (before the overallotment option was exercised).On September 22, 2021, when the overallotment option exercise period expired, China Telecom issued an additional 178,635,111 shares in addition to the initial issue of 10,396,135,267 shares, representing approximately 1.7% of the initial number of shares issued.The final number of shares to be issued following the initial public offering and partial exercise of the overallotment option was 10,574,770,378.The total capital stock of China Telecom before the IPO is 80,932,368,321 shares, and the total capital stock after the IPO and partial exercise of the overallotment option is 91,507,138,699 shares, including 73,224,400,408 limited A shares.Accounting for 80.02% of the total share capital of China Telecom, the number of unlimited A-shares is 4,405,328,291 shares, accounting for 4.81% of the company’s total share capital.According to the China telecom co., LTD., ipo issuance arrangement and announcement of preliminary inquiry, the apply of restricted shares off-line issuance of investors are limited to such as floor sale arrangement: off-line issuance of shares allocated to each object placement, 30% of the shares no lock on a regular basis, from the date of this offering shares listed on the Shanghai stock exchange transactions can flow;The lockup period of 70% of the shares will be 6 months, and the lockup period will be calculated from the date when the issued shares are listed and traded on the Shanghai Stock Exchange.The announcement also mentioned that since the formation of the restricted shares, in addition to the exercise of overallotment option, China Telecom did not occur due to distribution, accumulation fund to increase the amount of capital stock changes.