Zte Shares Edge Up After 107 Billion Credit Proposal


HONG KONG – Shares of Chinese telecommunications giant ZTE Corp rose as much as 3.7 percent in Hong Kong on Thursday, after the firm proposed a $10.7 billion financing plan and the nomination of eight new board members.

China’s No.2 telecom equipment maker, which just agreed to a $1.4 billion settlement with the U.S. government to be pardoned from a supplier ban, saw its Hong Kong-listed shares rise to HK$15.52 in morning trade, outperforming the benchmark Hang Seng Index that dipped slightly.

But ZTE’s Shenzhen-listed shares dropped by the maximum daily allowed limit of 10 percent on mainland exchanges.

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