avichina-raises-147-million-from-followon

AviChina raises $147 million from follow-on

The Chinese maker of airplanes and helicopters catches the eye of global investors following a strong share price run over the past 12 months.

AviChina Industry Technology Company, last night raised HK$1.14 billion $147 million from a fully-underwritten H-share placement, taking advantage of the positive momentum in its share price in the past 12 months to generate interest and overcome the still difficult equity markets in both China and Hong Kong.

The Chinese maker of airplanes, helicopters, aero components and instruments was able to attract more than 60 institutional investors to the offering and to fix the price above the bottom of the range, which isn't bad for a company that isn't covered by any of the major research houses. Also, this being a placement of new H-shares, the deal has a T5 settlement, meaning participating...

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