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Provider: Reuters Investment Profile
Provider: Wright Reports
Provider: Thomson Reuters Stock Report
Provider: Thomson Reuters Stock Report

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AVIC Capital Co., Ltd. to Issue A Shares in Private Placement

Wednesday, 24 Apr 2013 08:00pm EDT 

AVIC Capital Co., Ltd. announced that it plans to issue up to 340,367,596 A shares of common stock with par value of RMB 1.00 per share at no less than RMB 14.69 per share in private placement. The Company aims to raise up to RMB 5 billion through the issuance, and will use approximately RMB 675 million to acquire a 10.20% stake in a Nanchang-based trust company (Company A) from Aviation Industry Corporation of China. After the acquisition, the Company will hold a 51% stake in Company A. The remaining funds will be used for bank loan repayment and capital injection into subsidiaries. 

Company Quote

1.37 +10.01%
1:55am EST