Business Services Industry
ZHONGXING TELECOM LAUNCHES ROADSHOW FOR HK LISTING.
AsiaPulse News, November, 2004
BEIJING, Nov 23 Asia Pulse - Zhongxing Telecommunications Co Ltd (ZTE), the country's second-largest telecoms equipment maker, launched its roadshow yesterday, bringing it a step closer to raising a maximum of HK$3.5 billion (US$448 million) on the Hong Kong market, said the China Daily Tuesday.
The move is the first attempt by a domestically-listed A share company to seek an overseas listing in Hong Kong.
According to the company's statement, it will issue a total of 160 million H shares in the Hong Kong market. The price of each share will be set between HK$17.5-HK$22 (US$2.24-2.82). But the exact price will be decided on December 2.
The stock is scheduled to be listed on December 9.
"About 60 per cent of the funds raised will be used...
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