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Market Chatter: Adtek Close to Raising 2 Billion Yuan Ahead of Hong Kong IPO

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Shenzhen Adtek Technology is about to reach 2 billion yuan in raised funds ahead of its proposed initial public offering in Hong Kong, Bloomberg News reported Thursday, citing insiders.

Morgan Stanley's Singaporean private equity arm, Temasek Holdings, and investment firm CPE are likely to join the Chinese optical connectivity products supplier's pre-IPO round, the sources reportedly told the news agency.

Adtek may target a valuation of between $3 billion and $4 billion, the report said, citing the sources.

Adtek, Temasek, Morgan Stanley and CPE did not immediately respond to' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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