TFC Optical sets share transfer price at 88.55 yuan

Suzhou TFC Optical Communication has set the price for its private share transfer at 88.55 yuan per share following an inquiry process with institutional investors.

The company received 25 valid bids from institutional investors including fund managers, securities firms and private equity firms. All 9.9 million shares have been fully subscribed by 14 selected institutional investors.

Shares acquired will be restricted from transfer for six months. The transfer will not alter company control or impact operations.