[ET Net News Agency, 24 August 2017] China Unicom (00762) said it agreed to place up to
6,651 million shares to its controlling shareholder China Unicom (BVI) Limited at HK$13.24
per share, representing a premium of about 9.97% to the closing price of HK$12.04.
The maximum subscription shares represent around 21.74% of the enlarged issued shares pf
China Unicom. Upon completion, the shareholding of China Unicom (BVI) will be increased to
about 53.52% from 40.61%.
The maximum net proceeds of around HK$88,056.81 million will be used as to about
HK$46,777.96 million for upgrading the 4G network capabilities of China Unicom, about
HK$23,011.85 million for technology validation, enablement and launch of trial programs in
relation to the 5G network, about HK$2,728.01 million for developing innovative businesses
and about HK$15,538.98 million for the repayment of bank loans.
China Unicom (BVI) is 17.9% owned by China United Network Communications Group Company
Limited and 82.1% owned by China United Network Communications Limited, whose shares are
listed on the Shanghai Stock Exchange. (HL)