China’s ZTE Plans $1.7 Billion A-Share Sale to Fund 5G R&D

New York Times | Jan 16, 2020 at 9:25 AM
  • ZTE Corp said it was looking to raise 11.51 billion yuan ($1.7 billion) from a private placement of A shares, and that it plans to use the proceeds for research and development (R&D) of 5G networks as well as working capital.
  • The A shares, which are subject to a lock-up period of 12 months from the date of listing, will be issued to 10 independent professional or institutional investors in China.