Chinese telco Datang Telecom has seen its application for a private placement rejected by the Chinese regulator, according to media reports.
Chinese news website CapitalVue cited local media reports writing that the Chinese Securities Regulatory…
Chinese telco Datang Telecom has seen its application for a private placement rejected by the Chinese regulator, according to media reports.
Chinese news website CapitalVue cited local media reports writing that the Chinese Securities Regulatory Commission (CSRC) had rejected the application.
According to the report, Datang was planning to raise up to Yn470m (US$71m) by issuing 31 million shares at Yn16.49 a share.
The funding would reportedly have been used for research and development projects including a new 3G smart card an electrical reader terminal.
