Transtech Optelecom Signs Deal to Buy Optical Fibre Preforms From Yinhu Optical Fiber; Shares Fall 10%
MT Newswires Live01-19 12:14
Transtech Optelecom Science (HKG:9963) said it has entered into a framework purchase agreement to buy optical fibre preforms from Yinhu Optical Fiber (Tianjin), according to a Jan. 16 Hong Kong bourse filing.
Shares of the optical fiber manufacturer were down nearly 10% in Monday's late morning trade.
Under the agreement, Transtech's wholly owned unit will purchase optical fibre preforms through to the end of 2026, subject to an annual cap of HK$9.8 million.
Yinhu Optical Fiber is more than 30% owned by Futong Group, one of Transtech's controlling shareholders, the company said.
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