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AIDC applies to list on TWSE
Taiwan News, Staff Writer
2014-04-14 04:38 PM
The Aerospace Industrial Development Corporation (AIDC) has officially submitted an application to list on the Taiwan Stock Exchange. The IPO is expected to debut in the beginning of Q4. AIDC has a current capitalization of NT$9.08 billion and is 100% held by the Ministry of Economic Affairs, R.O.C. In order to promote privatization, public bidding, public flotation, and employee flotation will be employed this year to issue a 51% stake in AIDC. This project is scheduled to begin in Q2 and is expected to inject NT$4.5 billion into the national treasury.

AIDC’s previous incarnation, the Aero Industry Development Center, was restructured on July 1, 1996. AIDC’s by-laws clearly set forth that the company must complete privatization as soon as possible according to the Statute of Privatization of Government-Owned Enterprises.

AIDC’s consolidated 2013 revenue was NT$23.08 billion, an annual increase of 2.15% with net income of NT$1.28 billion, for 2.7% annual growth. Net income per share was NT$1.42. AIDC’s business includes airplane and aircraft maintenance, engines, and industrial services. Airplane and aircraft maintenance account for the largest share of business at 66.26%

In recently years, AIDC’s aircraft component manufacturing capacity has been steadily growing. It is currently the world’s largest aircraft engine casing manufacturing center outside the United States with annual output in excess of 6,000 units. Growing aviation demand and the increasing number of orders released by major Japanese manufacturers will inject new growth momentum into AIDC. Institutional investors expect AIDC to invest NT$1.2 billion to construct a third factory at Gangshan to expand capacity. The factory is forecast to go online in 2016 and casing capacity will increase 50% to approximately 10,000 units. In addition, AIDC plans to invest NT$2 billion to construct a second advanced composites plant in Taichung.

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