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.
— Robert Clark, contributing editor, special to Light Reading