IT: CEC Telecom eyes NASDAQ listing
(Shenzhen Daily)
Updated: 2006-06-09 14:43
Domestic mobile phone maker CEC Telecom said Thursday it was aiming for an
initial public offering on the NASDAQ stock market in the fourth quarter,
raising up to US$150 million. CEC Telecom, a unit of telecom equipment producer
Qiao Xing Universal Telephone Inc., had already raised US$60 million via a
private placement ahead of the planned NASDAQ listing, company chairman Wu
Zhiyang said in a statement.
ZTE Corp, China’s second-largest telecom equipment maker, plans to build a
wireless network based on the CDMA standard in India with salt-to-software
conglomerate Tata group. Under its strategic alliance, ZTE said it would
exclusively supply equipment for Tata-Indicom to build networks based on CDMA
2000 technology throughout India’s rural areas over the next two to three
years.
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