Jiangsu Tongguang Electronic Wire & Cable (SHE:300265) will jointly invest 600 million yuan with Changfei Optical Fiber to establish a joint venture, according to a Shenzhen Stock Exchange filing on Tuesday.
The venture, Jiangsu Tongfei Technology, will produce optical fibers and cables, communication cables and other special communication equipment.
The Chinese wires and cables manufacturer will own 56.5% of the venture after injecting 339 million yuan into its capital. Changfei Optical Fiber will hold 43.5% of the venture after investing 261 million yuan, the filing said.
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