China's Yangtze Optical slides again on institutional sales

Yangtze Optical Fibre and Cable Joint Stock Co

01/08/2018 02:55

** Shares in newly-listed Yangtze Optical Fibre and Cable
 601869.SS  slump more than 6 pct, extending a maximum 10 pct
fall the previous session, after data showed institutional
investors sold shares 
    ** The benchmark Shanghai Composite Index  .SSEC  was up
around 0.1 pct 
    ** An institutional investor sold 24 million yuan ($3.52
million) worth of shares in the firm, according to data from the
Shanghai Stock Exchange 
    ** The optical fibre and cable maker, which listed in
Shanghai last month, issued 75.8 million A-shares at an issue
price of 26.71 yuan per share  urn:newsml:reuters.com:*:nFWN1U4007 
    ** Mainland investors have been shunning newly-listed firms
trading at high prices amid a broad correction in the market
    ** Stock up about 0.7 pct in Hong Kong  6869.HK  
   ($1 = 6.8119 Chinese yuan)

 ((Reuters Messaging:
luoyan.liu.thomsonreuters.com@reuters.net))