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FACC AG was officially listed to start trading on the Vienna Stock Exchange Release Date : [2014-06-26]

 

On June 25, at 9:00 a.m., Vienna local time, FACC AG, the overseas subsidiary of AVIC, was officially listed to start trading on the Vienna Stock Exchange, with the open price at 9.5 euro per share, which soon climbed to 9.53 euro. The trading remained active that day, with the close price at 9.54 euro, increasing by 0.42% and trading 1.40 million shares. The listing of FACC AG successfully raised 1.81 billion Yuan (213 million euros).
The successful listing of FACC AG on the stock exchange enabled it to become the 29th listed company under AVIC and this capital operation made FACC AG the first subsidiary under AVIC to become officially listed on the stock exchange in European capital markets.
In 2009, AVIC successfully achieved its acquisition of FACC AG Company, signaling the first overseas acquisition by Chinese aviation industries, the biggest-scale acquisition ever carried out by Chinese enterprises in central Europe, and the first acquisition of European Aeronautical Manufacturing Corporation achieved by Asian Aeronautical Manufacturing Corporation.
The success, moreover, embodies another important move for AVIC to practically merge into the distribution chain of World Aviation Industry, and further its strategy of capital operation and international expansion. FACC AG, thereafter, will further the coordination with AVIC on the betterment of aeronautic composites. AVIC, in a benign interaction, may exert its influence in domestic and international airline market to uplift the profits for FACC AG.
Local time, November 13th, 2013, presentation ceremony was held in the State of Upper Austria in Austria, giving the gold medal to the chairman of the supervisory board of FACC AG, Doctor Geng Ruguang for his great efforts in facilitating the economic development of FACC AG and the State of Upper Austria as well as in promoting economic and trade cooperation between China and Austria.

Source : www.avic.com