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Industry

AVIC subsidiary launches IPO

15 December 2017

The Aviation Industry Corporation of China (AVIC) listed the assets of one of its many businesses on 13 December as part of its continuing efforts to stimulate inward investment in the group.

AVIC said that Shennan Circuits, which is an affiliate of its CATIC Shenzhen Holdings subsidiary, launched an initial public offering (IPO) on the Shenzhen Stock Exchange, raising funds worth about CNY540.4 million (USD82 million). Shennan Circuits produces circuit boards for commercial/military aerospace programmes.

AVIC said that investor interest in the company was high. Shares in Shennan Circuits were issued at CNY19.3 but climbed to nearly CNY28 by close.

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