Stock Track | YOFC Soars 5.02% Intraday After HK$2.26 Billion Follow-On Offering and Governance Overhaul

Stock Track12-19

Yangtze Optical Fibre and Cable Joint Stock Limited (YOFC) saw its stock price surge 5.02% during Friday's intraday trading session. This notable upward movement reflects heightened investor confidence following recent corporate developments.

The company recently completed a HK$2.26 billion follow-on equity offering, issuing 70 million H shares at HK$32.26 per share. Concurrently, YOFC implemented significant governance changes, including abolishing its supervisory board and appointing new non-executive directors. These strategic moves are viewed positively by the market as they strengthen the company's balance sheet and governance structure, potentially supporting future growth initiatives.

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