Shanghai: Aviation Industry Corporation of China (AVIC) announced that its subsidiary AVIC International Beijing has listed its 45% equity in Taizhou CATIC Shipbuilding for sale on the Beijing Equity Exchange. The listing price is RMB91.81m.
Taizhou CATIC Shipbuilding is jointly invested by AVIC International Beijing (45%), Taizhou Kouan Shipbuilding (44%) and Jiangsu Baochuan Investment (11%) in 2007 with a registered capital of RMB200m.
Taizhou CATIC Shipbuilding currently has a total liability of RMB2.15bn and it suffered a net loss of RMB237m by the end of November.
AVIC Group currently runs three shipbuilding bases including AVIC Weihai Shipyard, AVIC Dingheng Shipyard and Taizhou CATIC Shipbuilding. [29/12/14]