HK-listed AviChina Industry & Technology jumps on proposed acquisition

AviChina Industry & Technology Co

15/10/2018 06:05

** Shares in Hong Kong-listed AviChina Industry & Technology
Co Ltd  2357.HK  jump as much as 12.6 pct to HK$5.18, after it
announces a plan to buy AVIC Helicopter from its parent 
    ** Stock of the civil aviation products manufacturer is set
for best day since March 6
    ** Co says it plans to acquire a 100 pct equity interest in
Avic Helicopter, which is principally engaged in R&D,
manufacturing, sales and maintenance of helicopters, other
aircraft, aviation parts and components  urn:newsml:reuters.com:*:nFWN1WS08U(http://bit.ly/2CKRNvx)
    ** Daiwa Capital Markets in an Oct. 12 report has a hold
rating and SOTP-based 12-month target price of HK$4.80 based on
a 35 pct discount applied to the current share prices of its
A-share subsidiaries
    ** Hong Kong's benchmark index  .HSI  falls 1.1 pct 

 ((Reuters Messaging:
tingting.liu.thomsonreuters.com@reuters.net))