OT: To Jay Chen, others into Furakawa Elec...
TOKYO, Sep 01, 2000 (AsiaPulse via COMTEX) -- Furukawa Electric Co. (TSE:5801), a leading maker
of electric wire and fiber optic cables, will list its U.S. subsidiary on the Nasdaq Stock Market by early
November, hoping to raise some US$100 million, the company announced Thursday.
U.S. subsidiary Optical Communication Products Inc., a manufacturer of optical communications system
parts, has filed an application to list with the U.S. Securities and Exchange Commission.
The funds raised will be used for capital investment and research and development.
Furukawa Electric will continue to hold a majority stake in the U.S. company after the listing.
Optical Communication makes optical links, which convert light signals to electric currents and vice versa. The
firm posted US$40 million in sales in the year ended Sept. 30, with levels doubling over recent years because
of the rapid spread of wavelength division multiplexing, an optical communications technology for transmitting
several wavelengths in a single optical fiber.
Furukawa Electric listed affiliate JDS Uniphase Corp. on the U.S. Nasdaq last year. The firm is estimated to
be sitting on a 1.6 trillion yen appraisal profit from its stake in JDS Uniphase.
(Nikkei)
(C) 2000 Asia Pulse Pte Ltd
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