China Satellite wants to raise $500m in IPO
January 4, 2021
By Chris Forrester
China Satellite Communications (CSC), a subsidiary of China Aerospace Science & Technology, says it will sell shares to a group of investors totalling some 3.3 billion Yuan (about $506 million).
Based in Beijing, the company says it will use the cash to invest in 3 satellite projects.
After the cash-raising exercise China Aerospace will remain CSC’s largest shareholder.
Local reports say that China has identified communications satellites as a key civil infrastructure which sits alongside the country’s plans for 5G expansion.