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0:44:04
Thursday 9 February 2012
0:44:04
Thursday 9 February 2012
Top News
ZTE To Raise HK$2.62 Bln From Share Sale For Working Capital
Updated:2010/1/14 10:51
Tags:ZTE
Chinese telecommunications equipment vendor ZTE Corp. (0763.HK) said Thursday it plans to raise HK$2.62 billion from a share sale for general working capital.
ZTE said in a statement it will sell 58.3 million new H shares at HK$45 each, representing a discount of 13% to the stock's closing price Wednesday of HK$51.70.
The firm said it had considered different types of fund-raising and decided a share sale is the most effective way to raise additional capital.
Goldman Sachs (Asia) LLC. and Deutsche Bank AG are handling the deal.
Source:Dow Jones
Source:Source:Dow Jones
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