AviChina Industry & Technology's (HKG:2357) subsidiary AVIC Airborne Systems (SHA:600372) will contribute 250 million yuan in cash to the capital of Chengdu CAIC Electronics or AVIC Kaitian, another subsidiary of the company, a Friday Hong Kong bourse filing said.
The contribution will increase the registered capital of AVIC Kaitian from 544.1 million yuan to 603.8 million yuan and increase AVIC Airborne's shareholding in AVIC Kaitian from 61.15% to 65%. The capital contribution price came in at 4.19 yuan per share of AVIC Kaitian.
AVIC Airborne will remain the controlling shareholder of AVIC Kaitian.
The aviation company's shares closed over 2% higher on Friday.
Price (HKD): $4.16, Change: $+0.090, Percent Change: +2.21%
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