Honor secured investment from China Telecom, a fund under Costone Capital, SDG Corp., a fund under China Capital Investment and others in a fundraising round. Photo: VCG
A rundown of the news making headlines in and around China:
Honor fundraising: Honor Device Co. Ltd. has launched a new fundraising round that could pave the way for the smartphone-maker’s IPO. Honor, which was spun off from Huawei Technologies Co Ltd. in November 2020, did not disclose its valuation after the round or how much money it raised. Investors included China Telecom Corp. Ltd., a fund under Costone Capital, SDG Corp. and a fund under China Capital Investment (Group) Co. Ltd. In August, Honor said it was planning to undergo an equity restructuring in advance of a planned IPO. Later that month, it announced it had brought in China Mobile Ltd. as an investor.
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