China Mobile Seeks to Acquire Strategic Stakes in Zhongji Innolight

Updated:2021/10/27 16:20

On October 22, China Mobile Holding Company Limited successfully participated in the directional A-share issuance expanded by Zhongji Innolight Co., Ltd. In this issuance, Zhongji Innolight successfully raised funds of about 2.7 billion yuan. China Mobile subscribed to 16.1 million shares with a total investment of about 499 million yuan, putting it on course to gain a 2.01% stake in Zhongji Innolight once the transaction is completed.

China Mobile stated that the investment in Zhongji Innolight is one of the major steps toward fully implementing the new infrastructure strategies set by the central government as well as toward accelerating the construction of new infrastructures, including 5G network, data centers, artificial intelligence, and industrial Internet. Following this investment, both parties are expected to expand the range of cooperation around a number of fields, such as optical communication technologies and their applications, as well as embrace innovative cooperation with the view of achieving mutually constructive win-win outcomes.

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