A unit of the Aviation Industry Corp of China (AVIC), China’s huge state-owned aircraft maker, plans to list abroad in the near future, the official China Securities Journal said, citing AVIC President Lin Zuoming.
The newspaper quoted chairman Gu Huizhong as saying China Aviation Technology International is considering taking on more strategic investors in China and aboard, after securing one financial firm as its investor.
Gu Huizhong said AVIC, as the company’s controller, could lower its stake to less than 50%, while the financial firms, as strategic investors, can take up to a 20% stake in the company.
Forbes reports that AVIC President Lin Zuoming is now promoting the overseas listing for the subsidiary.
The unit, which reorganised from China National Aero-Technology Import and Export Corporation and other firms, controls six arms that are listed in Shenzhen and Hong Kong.