Air China Raises 20 Billion Yuan via Private Placement to Parent; Hong Kong Shares Slide 3%
MT Newswires Live
May 28
Air China (HKG:0753, SHA:601111) completed a mainland-listed share issuance that raised net proceeds of about 20 billion yuan, according to a Wednesday Hong Kong bourse filing.
Hong Kong-listed shares of the firm were down nearly 3% in Thursday afternoon trade.
The airline issued 3.04 billion shares at 6.57 yuan apiece to its controlling shareholder, China National Aviation, and its unit, China National Aviation Capital.
The proceeds will be used for debt repayment and replenishing working capital, the company said.
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