Exhibit 1.1
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no
representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
China Telecom Corporation Limited
中国电信股份有限公司
(A joint stock limited company incorporated in the Peoples Republic of China with limited liability)
(Stock Code: 728)
DETERMINATION OF THE OFFER SIZE AND OFFER PRICE FOR
THE A SHARE OFFERING
This announcement is
made pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the Listing Rules) and Part XIVA of the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong).
We refer to the announcements dated 9 March 2021, 9 April 2021, 27 April 2021, 28 April 2021, 15 July 2021, 22 July 2021,
29 July 2021, 30 July 2021 and 5 August 2021 (collectively, the Announcements), and the circular dated 17 March 2021 (the Circular), respectively published by China Telecom Corporation Limited (the
Company), which contain, among others, matters relating to the proposed initial public offering of RMB ordinary shares (A Shares) and listing of the Company on the main board of the Shanghai Stock Exchange (the A Share
Offering). Unless otherwise defined in this announcement, terms used herein shall have the same meanings as defined in the Announcements and the Circular.
The Company is pleased to announce that, following the completion of preliminary price consultations with consultees on 3 August 2021 and 4 August
2021, the Company will issue 10,396,135,267 A Shares (prior to the exercise of the over-allotment option) to 11,955,555,267 A Shares (after the exercise of the over-allotment option in full) at the issue price of RMB4.53 per A Share. The issue price
was determined based on several factors including the fundamentals of the issuer, valuation of comparable companies, the industry in which the Company operates, market conditions, needs for proceeds and underwriting risks.
For the finalised terms of the A Share Offering, please refer to the full text of the Initial Public Offering (A Shares) Prospectus of China Telecom
Corporation Limited and its summary published by the Company in Chinese only on the websites of the Shanghai Stock Exchange (www.sse.com.cn), The Stock Exchange of Hong Kong Limited (www.hkexnews.hk) and the Company (www.chinatelecom-h.com) on 6 August 2021.
A-1