HONG KONG (Reuters) - Shares of Chinese telecommunications giant ZTE Corp (HK:0763) (SZ:000063) fell as much as 10 percent on Friday, continuing a slide that has wiped more than $4 billion off its market value in the past three days.
ZTE has proposed a $10.7 billion (8.07 billion pounds) financing plan and nominated eight board members in a drastic management overhaul, as it seeks to rebuild a business crippled by a U.S. supplier ban.
The Hong Kong-listed stock fell to as low as HK$13.38, while ZTE's Shenzhen shares fell by their daily 10 percent limit to 22.82 yuan.
