Aviation Industry Corporation of China (AVIC), the country's dominant aerospace and defence contractor, plans to raise more money in the mainland and Hong Kong stock markets to bankroll future growth, its chairman Lin Zuoming said.The group is also considering injecting its holdings in some mainland-listed units into AviChina Industry & Technology Co Ltd as the state-owned giant makes the Hong Kong-listed subsidiary its key fund-raising platform for its aviation business, Lin said, without identifying the mainland firms.The Chinese government is opening up a sector traditionally shielded from competition and public scrutiny as it taps private-sector funds to help speed up the development of its aviation and defence firms to compete with global giants such as Lockheed Martin Corp.Lin ruled out the listing of the entire AVIC group, citing the complexity of its structure. The sprawling Beijing-based enterprise has more than 400,000 employees and 200 subsidiaries, including two dozen listed units.
Lockheed Martin Corporation is a global security and aerospace company principally engaged in the research, design, development, manufacture, integration, and sustainment of technology systems and products. Shares of LMT fell by 0.19% or $-0.17/share to $89.81. In the past year, the shares have traded as low as $72.37 and as high as $93.99. On average, 1568620 shares of LMT exchange hands on a given day and today's volume is recorded at 1550727.
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