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Hafei Aviation Industry Co Ltd to Issue Shares for Equity Acquisition and Fund Raising; Announces Changes in Shareholding Structure


Thursday, 26 Sep 2013 08:00pm EDT 

Hafei Aviation Industry Co Ltd announced that it will issue 196,826,716 shares, including 110,726,172 shares to a helicopter company owned by Aviation Industry Corporation of China, 38,029,758 shares to AviChina Industry & Technology Company Limited, as well as 48,070,786 shares to Harbin Aircraft Industry (Group) Co., Ltd, at the price of RMB 16.87 per share, or RMB 3,320,466,700 in total, to acquire a 100% stake in a Jiangxi-based company, a Jingdezhen-based company, a Mancheng-based company, a Tianjin-based helicopter company, as well as building, land and equipments related to helicopter component production of Hafei Aviation Industry's top shareholder. Hafei Aviation Industry Co Ltd will also issue 65,560,165 shares, at the price of RMB 16.87 per share, or raise up to RMB 1,106 million. After the share issuance, the top shareholder will hold 168,856,523 shares (28.16%), down from 168,856,523 (50.05% stake). The helicopter company owned by Aviation Industry Corporation of China will hold 110,726,172 shares (18.46% stake), up from 0 share (0% stake). AviChina Industry & Technology Company Limited will hold 38,029,758 shares (6.34% stake), up from 0 share (0% stake). Harbin Aircraft Industry (Group) Co., Ltd will hold 48,070,786 shares (8.02% stake), up from 0 share (0% stake). 

Company Quote

25.55
-0.18 -0.70%
18 Apr 2014