China Unicom planned to issue A shares to raise CNY30 billion and make Baidu, Alibaba, Tecent and other China's state-owned enterprises their shareholders, Hong Kong media reported, and the new shareholders may hold nearly 20 percent of A share capital. The plan may be finalized during June or July this year.
China Unicom has made an announcement of the plan of and push towards the mixed-ownership reform, which will use China United Network Communications Ltd (600050.SS) (A-share compay) as a platform. The reform issues may involve changes in shares of the shareholder. The announcement said the relevant plan is argued and significant uncertainties remain.