ZTE Corp 00763.HK

Based in Shenzhen, China, ZTE is a telecommunications equipment manufacturer. Founded in 1985, ZTE provides both hardware and software for mobile phones and tablets worldwide, via a large number of subsidiaries. Operational locations include China, the United States, India, Australia, Indonesia, Germany, Brazil and more. Many of ZTE’s biggest clients are outside China, including France Telecom, Vodafone and Telus.

ZTE, stock symbol 0763.HK, went public in 2004 on the Stock Exchange of Hong Kong. The company was looking to secure $450 million in funding, citing the desire for international expansion and R&D as the primary motives behind the IPO. This was ZTE’s second IPO attempt on the SEHK, after abandoning its first attempt in early 2003.

Chinese companies have often experienced strenuous and unpredictable relations with foreign governments. ZTE’s contract negotiations in the Philippines to construct broadband infrastructure were cancelled due to alleged shady behaviour. Telenor banned ZTE from participating in new tenders for a six month period, due to a violation of the Norwegian carrier’s code of conduct.

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