PineBridge Investments Boosts Stake in China's ZTE

PineBridge Investments, the money manager controlled by Hong Kong billionaire Richard Li, boosted its stake in Chinese network equipment maker ZTE Corp. to 5 percent, a stock exchange filing showed.

The PineBridge holding rose on Nov. 27 to the level that requires disclosure, after previously being at 4.94 percent, the filing showed Friday. The investment was for PineBridge’s funds and accounts managed by it, and not a direct investment for Li, PineBridge spokeswoman Jacinta Reddan said by e-mail.

Based in Shenzhen, ZTE is listed in Shenzhen and Hong Kong, with a market capitalization of $11 billion.

(Corrects to show that investment is by PineBridge, not Richard Li.)
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