China's Major Plane Producer to Make IPOsThe Jiangxi Hongdu Aviation Industry Co., Ltd., one of China's major airplane producers, is making its initial public offerings (IPOs), upon approval by the China Securities Regulatory Commission.According to the prospectus available in Beijing on November 14, the company based in Nanchang, capital of Jiangxi Province in east China, is offering 60 million A shares at 14.98 yuan (US$1.80) per share. The company, founded in 1951, is known for producing China's first airplane and first jet training plane. Its best-known product is the K8 jet training plane, which has been exported to Asian and African countries. After the IPOs, the company will have a total equity capital of 1.4 billion yuan (US$168 million), while outstanding A shares will account for 42.86 percent of its equities. |
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