ZTE Corp plans to raise 11.5 billion yuan (US$1.7 billion) from a private placement of A shares for 5G network research and development. Photo: AP
ZTE
ZTE plans to raise 11.5 billion yuan to develop 5G from private share sale
- The Shenzhen-based company is set to issue 381,098,968 A shares to independent third-party investors
- The issue price, at 30.21 yuan, is an 18.2 per cent discount from ZTE’s A-share closing price of 36.9 yuan in Shenzhen on Wednesday
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ZTE
ZTE Corp plans to raise 11.5 billion yuan (US$1.7 billion) from a private placement of A shares for 5G network research and development. Photo: AP