AviChina launches block after 23% stock jump

27 Feb 2012

AviChina Industry and Technology, the Chinese aircraft manufacturer, launched a HK$698.3m ($89.99m) share sale on Friday morning, taking advantage of a 23.4% jump in its stock price since the start of the year.

The company had covered the books before lunch and looked likely to use a HK$232.53m upsize option as EuroWeek Asia went to press on Friday evening, when the deal was being marketed to UK accounts, said a banker familiar with the deal.

The company was selling 196.7m shares for ...

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