|Bid||15.21 x 300|
|Ask||16.00 x 200|
|Day's Range||15.30 - 15.88|
|52 Week Range||10.84 - 16.40|
|PE Ratio (TTM)||264.67|
|Dividend & Yield||0.00 (0.00%)|
|1y Target Est||N/A|
China Unicom's $11.7 billion ownership reform plan does not violate rules, the nation's securities regulator said, helping shares in the telecom group's units surge as they resumed trade on Monday after speculation that the deal was under scrutiny. The deal, in which Unicom's Shanghai-listed unit will tap more than a dozen major investors, including Alibaba Group (BABA.N), Tencent Holdings and Baidu (BIDU.O), for funds, had sown much confusion after it was first announced last Wednesday. China Unicom had taken down a statement from the Shanghai stock exchange last week, citing technical issues, and shares in both units remained suspended last week.
Aiding China Unicom is unlikely to narrow the gap with Ping An.
Shares in China Unicom (762.HK) surged as much as 10% in Hong Kong trading Monday after the telco announced much-anticipated private investment plans last week. The Middle Kingdom’s second-biggest carrier unveiled last Thursday that it was raising USD11.7 billion from investors including Alibaba (BABA), Baidu (BIDU), Tencent (700.HK) and JD.com (JD). The share-sale is via its separately-listed Shanghai unit, China United Network Communications (600050.CN), whose own stock was up about 10% this morning.