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China Mobile Makes Debut in Shanghai After $9 Billion Stock Sale - The Wall Street Journal

Why China Has a New Stock Exchange in Beijing

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Why China Has a New Stock Exchange in Beijing

Why China Has a New Stock Exchange in Beijing

The new Beijing stock exchange is meant to help smaller companies get more investment to fund innovation, according to a Chinese regulator. Its debut comes even as China tightens its grip on companies seeking listings overseas. WSJ’s Anna Hirtenstein explains. Photo: Li Xin/Zuma Press

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Eight months after China Mobile Ltd. was booted from the New York Stock Exchange, the giant cellphone carrier made its debut in Shanghai on Wednesday after raising close to $9 billion in a blockbuster homecoming listing.

Shares of the state-owned mobile operator closed slightly above their Shanghai stock-offering price of 57.58 yuan, the equivalent of $9.06, after climbing earlier in the day.