ZTE gets tight discount

ZTE Corp became the first A share company to complete a secondary listing on the Hong Kong Stock Exchange on Friday (December 3) raising HK$3.1 billion ($398 million) from a deal led by Goldman Sachs. The Chinese telecoms equipment manufacturer priced a 141 million share offering at the very top end of its HK$17.5 to HK$22 range after securing roughly $10 billion in retail demand and $7.6 billion from institutions and corporates.