ZTE hard sells its wares for Hong Kong listing

Telecom equipment manufacturer hopes to become the first outstanding A share company to list in Hong Kong, raising $350 million to $450 million.

Lead manager Goldman Sachs began pre-marketing a $350 million to $450 million listing of Chinese hardware telecom equipment manufacturer ZTE Corporation on Monday November 15.

The deal is unusual because it represents the first time an A share company has sought a secondary listing in Hong Kong, rather than the other way round, which has been the norm in the past. As such, the offering presents a number of challenges, which if successfully overcome, may...

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