China’s second largest mobile operator, China Telecom, broke the record for the world’s biggest listing so far this year, with a 5.7% jump above its offer price as it debuted in Shanghai on Friday, reports Bloomberg.
Shares opened at RMB 4.79 ($0.75) on Friday, compared with the listing price of RMB 4.53. That exceeded the $6.3 billion initial public offering by TikTok-rival Kuaishou Technology in Hong Kong in February.