Caixin OnlineBusiness & IndustryTop Stories Industry Huawei Denies It Has Plan to List in U.S.
10.08.2012 16:31

Huawei Denies It Has Plan to List in U.S.

Company is in contact with investment banks, but for reasons other than an IPO, manager says
By Hong Kong correspondent Wang Duan and intern reporter Dai Tian
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(Beijing) – Chinese telecoms giant Huawei Technologies Co. rejected a recent media report that it is seeking a public listing on the U.S. stock market.

A manager of the Shenzhen-based company said on October 7 that there were no IPO plans.

The Wall Street Journal reported on October 4 that Huawei "has reached out to investment banks for advice on issuing stock to the public." The report said the company is considering an IPO to improve its transparency and to strengthen its market status overseas.

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