EUROPE/MIDDLE EAST/AFRICA

摘要

Aviation group facc priced its €193.77m Vienna IPO on Tuesday morning at €9.50, the mid-point of the €8-€11 price range. Final messaging before books closed on Monday warned investors that orders below €9.50 would miss out. The shares closed flat to pricing on their debut on Wednesday and at €9.45 on Thursday. At pricing, the company raised proceeds of €150m, which will be used to expand the company, as well as equipping it to make opportunistic acquisitions. Aviation Industry Corporation of China sold 4.6m shares to garner €43.77m and is subject to a 360-day lock-up, along with members of FACC management. AICC has also made provision for a 10% secondary greenshoe which, if fully exercised, would increase the free-float to 49% from 45% currently. The pricing gives FACC a market capitalisation of €435m.