China Eastern eyes US$2.2b
Source: Agencies |
00:05 UTC+8 July 11, 2018
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Print Edition
Print Edition
China Eastern Airlines is raising as much as US$2.2 billion from a sale of shares to help fund purchases of aircraft and engines.
The airline proposes to sell as many as 1.62 billion shares on the mainland to investors including Juneyao Group, collecting 11.8 billion yuan (US$1.8 billion) and a further placement of up to HK$3.55 billion (US$452 million) of stock in Hong Kong, said a filing to the Shanghai stock exchange yesterday. Proceeds from the sale will be used to finance the purchase of 18 planes worth US$1.5 billion, the filing said.
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