ZTE to Invest 200 Million Yuan Into Partnership Fund; Shares Up 3%
MT Newswires Live
Yesterday
ZTE (HKG:0763, SHE:000063) proposed to subscribe for units of a partnership fund for 200 million yuan, according to a Shenzhen bourse filing on Saturday.
The Chinese telecom equipment company's Hong Kong shares and Shenzhen shares both jumped around 3% during Monday's morning trade.
The Guangdong-Hong Kong-Macao Greater Bay Area Venture Capital Guidance Fund Partnership (Limited Partnership) aims to have a registered capital of 45.1 billion yuan.
The 20-year fund will invest in information technology, biotechnology, high-end equipment manufacturing, new materials and new energy, electronic hardware, and frontier materials.
ZTE will own almost 0.4% of the fund.
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