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The latest update is out from AviChina Industry & Technology Co ( (HK:2357) ).
AviChina’s subsidiary Keeven Aviation Instrument has agreed to acquire a combined 10% equity interest in AVIC Jierui for a total consideration of RMB 58 million, purchasing 3.7805% from Aviation Industrial Fund and 6.2195% from Ruitexin. The connected transaction, which values AVIC Jierui based on an appraisal of RMB 619 million and falls under Hong Kong Listing Rules reporting and announcement requirements but is exempt from circular and independent shareholders’ approval, is intended to reinforce AviChina’s airborne industry chain and deepen R&D synergies within the AVIC group while keeping AVIC Jierui as a non-wholly owned AVIC subsidiary.
The most recent analyst rating on (HK:2357) stock is a Hold with a HK$4.50 price target. To see the full list of analyst forecasts on AviChina Industry & Technology Co stock, see the HK:2357 Stock Forecast page.
More about AviChina Industry & Technology Co
AviChina Industry & Technology Co., Ltd. is a PRC-based aviation and defense manufacturer specializing in airborne systems and related technologies, operating through subsidiaries including Keeven Aviation Instrument and maintaining close ties with its controlling shareholder, Aviation Industry Corporation of China (AVIC). The group focuses on strengthening its airborne industry chain and enhancing product research and development synergies across its portfolio of aviation equipment businesses.
Average Trading Volume: 31,906,915
Technical Sentiment Signal: Buy
Current Market Cap: HK$33.09B
For detailed information about 2357 stock, go to TipRanks’ Stock Analysis page.