EFEShanghai, China

The state-owned China Mobile is targeting to raise about $8.8 billion during its debut at the Shanghai Stock Exchange on Wednesday, the network operator said.

The Shanghai debut comes after China Mobile was barred from listing at the New York Stock Exchange following the United States government's blacklisting of the firm and other Chinese companies for their alleged military links.

The company Tuesday indicated, in a statement, that it would sell 845.7 million shares that could increase to almost 973 million if it exercised the over-allotment (greenshoe) option. EFE