ZTE approved for 26.67% shareholding of Nationz Technologies
ZTE Communication recently announced the application for its participation in shareholding in Nationz Technologies Co., Ltd has been approved by Share Issuance Examination Committee of China Securities Regulatory Commission. ZTE will hold 21,760,000 shares, which accounts for 26.67% of the general capital of National Technologies before the issuance.
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Nationz Technologies this time plans to issue 27,200,000 shares with par value of RMB 1.00 Yuan, which account for 25% of the general capital of 108.8 million shares after the issuance. The capital raised will be used for the “technological renovation project for USBKEY security chips”, “technological renovation project for security storage chips” and “industrialization project for mobile payment chips”.
Nationz Technologies, originated in May 2000 under the name of ZTEIC Design Co.,Ltd and renamed in June 2009, focus on the development of information security, SOC and Radio Frequency. The security storage, mobile payment and other innovative products and plans promoted by the Company have realized technical breakthrough and the Company has also obtained leading fruits on CMMB Mobile TV Chip, TD-LET Radio Frequency Chip and so on.
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