China Telecom Unit to Acquire Majority Stake in QuantumCTek for $265 Million

00:00

00:00/00:00

Listen to this article 1x

What’s new: QuantumCTek Co. Ltd., a developer of quantum-secure products, said it will issue 24.1 million shares to a unit of China Telecom for 78.94 yuan ($11) apiece, making the state-owned wireless carrier its largest shareholder.

The company said it will raise 1.9 billion yuan from the private placement, which will be used to replenish its working capital.

Unlock exclusive discounts with a Caixin group subscription — ideal for teams and organizations.

Subscribe to both Caixin Global and The Wall Street Journal — for the price of one.

Share this article

Open WeChat and scan the QR code

GALLERY

: Gallery: Asia New Vision Forum Kicks Off in Singapore

NEWSLETTERS

Get our CX Daily, weekly Must-Read and China Green Bulletin newsletters delivered free to your inbox, bringing you China's top headlines.

We ‘ve added you to our subscriber list.

Manage subscription

PODCAST

Caixin Deep Dive: Former Securities Regulator Yi Huiman’s Corruption Probe

00:00

00:00/00:00

MOST POPULAR

1: Cover Story: Why Modi Won’t Play Cowboys and Indians With Trump, Opting Instead for Strategic Autonomy

2: China, U.S. to Meet in Spain Over TikTok, Trade Disputes

3: Weekend Long Read: Tycoon’s Eight-Hour Escape Exposes Failings of a Model Chinese Prison

4: Carlyle, HongShan, EQT Among Final Contenders for Starbucks’ China Business

5: Chinese Ex-Employee of U.S. Hedge Fund Two Sigma Faces Fraud Charges