AVIC Aircraft Co LtdPlanned private placement to fund aircraft development and capacity expansion.

AVIC Xi'an Aircraft Industry Group announced that it is planning a private placement of A-shares to specific investors. The issuance will not result in a change of controlling shareholder or actual controller. The funds raised are intended for projects including military and civil aircraft development and capacity expansion, after-sales services, international subcontracting capacity enhancement, and production capacity improvement for aerospace composite materials and metal structural components. The number of shares to be issued will not exceed 30 percent of the total share capital before the issuance. The issuance plan still requires review by the board of directors and shareholders' meeting, approval from state-owned assets regulatory authorities, review by the Shenzhen Stock Exchange, and registration with the China Securities Regulatory Commission, and remains subject to uncertainty.
AVIC Aircraft Co LtdPlanned private placement to fund aircraft development and capacity expansion.