Chinese defence firm set for IPO

14 April 2019

The China Securities Regulatory Commission (CSRC) has approved the market listing of the Xi’an Triangle Defense Company (Triangle Defense), a specialist in component manufacturing across military aerospace, shipbuilding, and land systems domains.

The CSRC said on 12 April that it had reviewed Triangle Defense’s application to launch an initial public offering (IPO) and approved the share sale. The company has been asked to co-operate on the IPO with the Shenzhen stock exchange.

In 2017 Triangle Defense recorded revenues of CNY375 million (USD56 million) and profits of CNY117 million. One of the company’s shareholders is a subsidiary owned by the Aviation Industry Corporation of China (AVIC), the country’s dominant military aerospace group.

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