Listed firms halt trading on Unicom investment
SEVERAL listed firms stopped trading yesterday because they are involved in investing a huge volume of private capital into state-owned China Unicom.
On Wednesday, China’s second-biggest telecommunication carrier said it would raise about 78 billion yuan (US$11.7 billion) from a dozen investors, including Alibaba and Tencent. But China Unicom deleted the related statements later for "un-confirmed issues". The final details of the deal may be released on Monday.
The listed arms of the investors, including electronics retailer Suning Commerce Group Co, software giant Yonyou Network Technology and network service provider Wangsu Science & Technology Co, announced yesterday a halt to trading.
The deal represents the largest capital raising in the Asia-Pacific region since 2010. It will also be the biggest deal in recent years under China’s mixed-ownership reforms, which seeks to integrate and merge state-owned assets and private capital, industry insiders said.
“The spot light of the deal is not only the capital, but new opportunities and business operation and structure of China Unicom,” said Guosen Securities in a report.
Shares of telecommunications equipment makers rose yesterday as it is expected they will benefit from 5G and China Unicom’s reform.
Shenzhen-listed telecom equipment giant ZTE Corp jumped 2.32 percent to close at 22.95 yuan while Tongyu Communication Inc rose 3.23 percent to 34.5 yuan, compared with a 0.5 percent rise in the Shenzhen stock index yesterday.
- About Us
- |
- Terms of Use
- |
- RSS
- |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证:沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证:31120180004
- |
- 网络视听许可证:0909346
- |
- 广播电视节目制作许可证:沪字第354号
- |
- 增值电信业务经营许可证:沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.