China’s ZTE plans $1.7 billion A-share sale to fund 5G R&D

Investing.com | Jan 16, 2020 at 12:00 AM
  • ZTE Corp (HK:0763) 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.
  • ZTE’s Shenzhen-listed shares rose as much as 4% to 38.10 yuan in early trade.
  • Hong Kong-listed stock briefly rose 3.7% to HK$28.05, the highest since March 2018.