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Caixin Global
Caixin Global
Business
Liu Peilin and Denise Jia

China Telecom Unit to Acquire Majority Stake in QuantumCTek for $265 Million

China Telecom

What’s new: QuantumCTek Co. Ltd., a developer of quantum-secure products, said it will issue 24.1 million shares to a unit of China Telecom for 78.94 yuan ($11) apiece, making the state-owned wireless carrier its largest shareholder.

The company said it will raise 1.9 billion yuan from the private placement, which will be used to replenish its working capital.

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