China's biggest fiber cable manufacturer has applied for a listing on the Hong Kong Exchange.

Robert Clark, Contributing Editor, Special to Light Reading

August 5, 2014

1 Min Read
China Fiber-Maker Preps IPO

China's biggest fiber cable manufacturer, Yangtze Optical Fibre & Cable (YOFC), has applied to list on the Hong Kong Stock Exchange.

The Shanghai-based company last year manufactured 30 million kilometers in cable core and posted net earnings of 415 million Yuan Renminbi (US$67 million) on sales of RMB4.9 billion ($790 million). It has net assets of RMB1.5 billion ($243 million) and 400 staff.

The company was founded a dozen years ago by state-backed electronics conglomerate Wuhan Yangtze Communications Industry Group, which now owns a 25% stake.

YOFC's largest shareholders are China Huaxin, which also owns 50% of Alcatel Shanghai Bell Co. Ltd. , and the Italian cable firm Prysmian SpA , both of which hold a 37.5% stake.

— Robert Clark, contributing editor, special to Light Reading

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About the Author(s)

Robert Clark

Contributing Editor, Special to Light Reading

Robert Clark is an independent technology editor and researcher based in Hong Kong. In addition to contributing to Light Reading, he also has his own blog,  Electric Speech (http://www.electricspeech.com). 

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