January 16 - 10:01
ZTE plans $1.7 billion A-share sale to fund 5G R&D
Chinese telecom equipment giant ZTE hopes to raise $1.6 billion from a private sale of A-shares. The company plans to use the funds for research and development of 5G networks as well as working capital. ZTE said the deal will enable it to maintain its high level of investment in R&D, ensure its technological competitive edge, whilst developing its main products and businesses.
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