ZTE shares edge up after $10.7 billion credit proposal

“It also proposed to allow the board to apply for $10.7 billion credit line, including a 30 billion yuan credit line from Bank of China and $6 billion credit line from China Development Bank” writes Midwest Communications Inc for A day earlier, ZTE’s Hong Kong-listed shares had plunged 41 percent, their biggest decline in history, as the stock resumed trading after being suspended for almost two-months due to the U.S. ban that threatened to put it out of business.But ZTE’s Shenzhen-listed shares dropped by the maximum daily allowed limit of 10 percent on mainland exchanges.

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