Dongfeng Asset Management - investment in proposed IPO of Yangtze Optical Fibre and Cable Joint Stock Limited Company
Slaughter and May, Hong Kong, advised Dongfeng Asset Management Co. Ltd. (Dongfeng Asset), a wholly owned subsidiary of Dongfeng Motor Corporation (DFM), on its cornerstone investment in the proposed initial public offering of Yangtze Optical Fibre and Cable Joint Stock Limited Company (YOFC) for a total consideration of US$15 million.
Dongfeng Asset is a company incorporated in the PRC whose businesses include asset management, industrial investment, venture capital investment, investment management and consultancy, land and real estate development, international economic and technological cooperation, and related technical consulting, technical services, information services, and after-sales services. DFM, together with its subsidiary, Dongfeng Motor Group Company Limited, is China's second largest automaker and a large state-owned enterprise engaged in the manufacturing of commercial vehicles, passenger vehicles, auto parts, components and equipment as well as other auto-related businesses.
YOFC is one of the leading optical fibre preform, optical fibre and optical cable suppliers in the world. According to the Freedonia report and based on volume in 2013, YOFC is the leading optical fibre preform, optical fibre and optical cable supplier in China. YOFC raised HK$1.103 billion from its initial public offering on the Main Board of The Stock Exchange of Hong Kong Limited. YOFC was listed in Hong Kong on 10 December 2014.