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Prysmian shines with stake sale in Yofc and ESG win - Sep 1, 2025
As of September 1, today’s news sees developments in the cable sector, particularly involving Prysmian, and global trends in energy. Prysmian, through its fully owned subsidiary Draka, announced its agreement to sell approximately 5% of its stake in Yangtze Optical Fibre and Cable Joint Stock Limited Company (Yofc) for 45.25 Hong Kong dollars per share, translating to around 1.7 billion Hong Kong dollars (approximately 186 million euros). This move involves the placement of 37,595,255 H shares to a limited number of institutional investors. Upon completion of the Placement, Draka, which as at…
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