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China Fiber-Maker Preps IPO

Robert Clark
News Analysis
Robert Clark
8/5/2014
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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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R Clark
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R Clark,
User Rank: Blogger
8/5/2014 | 10:25:41 PM
Re: A dozen years..?
The parent company Yangtze Communications was founded in 1996, but YOFC go back just to 2002. Yangtze Communications has dozens of full- and part-owned subsidiaries.

Shanghai Bell is really the only one telecoms vendor 30 years ago who are still with us today. The shared shareholding with Shanghai Bell (China Huaxin) is one of the interesting things about this company.
jayja
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jayja,
User Rank: Light Sabre
8/5/2014 | 10:03:28 PM
A dozen years..?
These guys are a lot older than 12 years aren't they?  I was there in the early 1990's.  The original JV has got to be almost 30 years ago.
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