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.
