Hongdu Aviation plans share issue to fund acquisition

摘要

Hongdu Aviation Industry Co, a military aerospace specialist based in southern China, plans to raise CNY2.5 billion (USD366 million) through a private placement of shares to its parent company, the Aviation Industry Corporation (AVIC), and other investors.rnA report by a Chinese state-run news agency on 6 August said that the company - which is already listed on the Shanghai stock exchange - will issue 106 million shares to AVIC and nine other institutions. The shares are valued at CNY23.78 each.