Chinese subsea cable firm Hengtong Submarine snaps $145m in strategic round

Hengtong Submarine Power Cable, a wholly-owned subsidiary of Shanghai-listed Hengtong Optic-Electric — China’s largest power and fiber optic cable maker, has recently pocketed 1.03 billion yuan ($145.4 million) in a strategic funding round at a pre-money valuation of 17.5 billion yuan ($2.5 billion).