Summary by Moomoo AI
CHINA TELECOM ANNOUNCED THAT ITS WHOLLY OWNED SUBSIDIARY CHINA TELECOM QUANTUM GROUP SIGNED A SHARE SUBSCRIPTION AGREEMENT WITH HKUST SHIELD QUANTUM TECHNOLOGY CO., LTD. (STOCK CODE: 688027) ON MARCH 11, 2024. Under the agreement, China Telecom Quantum Group will subscribe for 30% of the issued shares of RMB ordinary shares prior to the issuance of the target company. Upon completion of the transaction, China Telecom Quantum Group will hold approximately 23.08% of the shares of the target company. The total price of this subscription is approximately RMB19.03 billion and the issue price per share is RMB78.94. The transaction is intended to facilitate the specialized integration and forward-looking layout of China Telecom in the field of quantum technology and will make the target company an indirect non...Show More