China's Xi'an Aircraft new share issue plan approved


Beijing (XFN-ASIA) - Xi'an Aircraft International Corp (SZA

000768) said the China Securities Regulatory Commission has approved its plan

to issue new shares via a private placement.

In a statement filed with the Shanghai Stock Exchange, the plane parts manufacturer said its shares, which were suspended from trading on Nov 23 pending approval from the regulator, will resume trading today.

In October 2006, Xi'an Aircraft said it planned to issue up to 660 mln new A-shares to no less than 10 institutional investors to raise about 5.5 bln yuan, with its parent Xi'an Aircraft Industry (Group) Co to take up 55 pct of the offering.

Xi'an Aircraft Industry (Group) will reportedly inject its military aircraft assembly lines and component part assets into the listed unit in return for new shares.

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