<article>China United Network Communications Ltd, the Shanghai-listed unit of telecoms group China Unicom, said it plans to raise 61.73 billion yuan ($9.25 billion) in a private placement.</article>

China United Network Communications Ltd, the Shanghai-listed unit of telecoms group China Unicom, said it plans to raise 61.73 billion yuan ($9.25 billion) in a private placement.
In addition, the company will transfer 12.98 billion yuan of shares to a fund and issue 3.21 billion yuan worth of shares to core employees.
The company made the announcement in a statement to the Shanghai stock exchange late on Sunday. The total funds raised would be 77.9 billion yuan ($11.7 billion).
On Monday, China Unicom Hong Kong Ltd, the Hong Kong unit of the group, said trade in its shares would resume.
The state-owned group had announced on Wednesday it was raising the funds via its Shanghai-listed unit from more than a dozen investors, including tech giants Alibaba Group, Tencent Holdings, and Baidu.
Reuters

China United Network Communications, the Shanghai-listed unit of telecoms group China Unicom, said it plans to raise $9.25 billion in a private placement.

China Unicom confirms raising $11.7b, trading in shares to resume

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China Unicom confirms raising $11.7b, trading in shares to resume

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