JunHe has advised Shenzhen-based telecom equipment maker ZTE on its $1.65 billion additional offering of stocks on the Shenzhen Stock Exchange, with China Securities being the sole sponsor.

According to ZTE’s press release, this is by far the largest private placement of A shares since 2017 and the only placement passing the billion-dollar threshold recently. The proceeds will be used for further research and development of 5G technology and products, including big data and network intelligence technologies, as well as supplementing working capital.

Headquartered in Shenzhen, Chinese multinational telecommunications equipment and systems company ZTE Corporation manufactures wireless, exchange, access, optical transmission products, data telecommunications gear, mobile phones, and telecommunications software.

The JunHe team was led by partners Jianwei Zhang, Yongzhao Liu and Wei Wei.