HK Stock Market Move | AVICHINA (02357) opens more than 4%, acquiring 19.187 million A-shares of AVICOPTER PLC, increasing direct shareholding to 50.90%

AVICHINA (02357) opened over 4% higher, and as of the time of writing, it has risen by 4.34% to HKD 3.85, with a turnover of HKD 4.3082 million. On the news front, AVICHINA issued an announcement regarding proposed restructuring and raising of complementary funds. After the completion of the proposed restructuring and raising of complementary funds, as of the date of this announcement, the Company directly holds 48.56% of the shares of AVICOPTER PLC (a non-wholly owned subsidiary of the Company listed on the Shanghai Stock Exchange), and AVICOPTER PLC's wholly owned subsidiary Harbin Aircraft Industry Group Co., Ltd. (HAIG aircraft Group) holds 2.34% of the shares of AVICOPTER PLC. In order to further streamline the equity structure of the Group's helicopter business, the Company's Board of Directors is pleased to announce that on December 25, 2024, the Company entered into a share transfer agreement with HAIG aircraft Group. HAIG aircraft Group will transfer all its 19.187 million A shares of AVICOPTER PLC (2.34% of the total share capital of AVICOPTER PLC) held by it to the Company at a transfer price of RMB 39.76 per AVICOPTER PLC A share. The share transfer is still subject to the approval and confirmation of AVICOPTER PLC shareholders' meeting and relevant authorities. Upon completion of the share transfer, the Company's direct holding of AVICOPTER PLC shares will increase to 417 million A shares, and the direct shareholding ratio will further increase to 50.90%.