China Tower Corporation Limited (中國鐵塔股份有限公司, the "Company") was established by China Mobile Communication Company Limited ("China Mobile Company"), China United Network Communications Corporation Limited ("China Unicom Corporation") and China Telecom Corporation Limited ("China Telecom") (the three telecommunications service providers in China collectively hereinafter referred to as the "Three TSPs") on 15 July 2014 as a limited liability company in the People's Republic of China (the "PRC"), with a total registered capital of RMB10,000 million. Upon its establishment, China Mobile Company, China Unicom Corporation and China Telecom subscribed for 4,000 million shares, 3,010 million shares and 2,990 million shares of the Company respectively, in cash at a par value of RMB1.00 per share, which accounted for 40.0%, 30.1% and 29.9% of equity interests in the Company respectively.
In 2015, the share capital of the Company was increased to RMB129,345 million, after an acquisition of certain telecommunications towers and related assets (the "Tower Assets") from the Three TSPs and new shares issuance to a new investor, China Reform Holdings Corporation Ltd. ("China Reform"). After the completion of the acquisition, China Mobile Company, China Unicom Corporation, China Telecom and China Reform held 38.0%, 28.1%, 27.9% and 6.0% of the equity interests in the Company respectively.
On 8 August 2018, the Company successfully completed its initial public offering of 43,114,800,000 H shares at HK$1.26 per share and its H shares were listed on the Main Board of The Stock Exchange of Hong Kong Limited. The Company further issued and allotted 3,549,056,000 H shares on 6 September 2018 pursuant to the partial exercise of the over-allotment option. The aggregate gross proceeds received by the Company was approximately HK$58.8 billion.