Stocks News
- AVIC I aims to float four units
Date: 2-Mar-2007 Sources: (Shenzhen Daily)
STATE-OWNED aircraft maker China Aviation Industry Corporation I (AVIC I) aims to float four units on the stock market this year, raising 4 billion yuan (US$517 million), domestic media reported Thursday.
AVIC I, which makes aircraft components for Boeing Co. and Airbus, also plans for a group listing eventually to help fund its expansions, the China Securities Journal said, citing unnamed company executives. It did not name the four subsidiaries or give other details. AVIC I, the maker of self-developed regional jet ARJ21, booked 3.58 billion yuan profit in 2006, up 55 percent from a year earlier, with sales up 16.6 percent to 81.5 billion yuan, the report said.
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