Airline nets US$1.3b in private placement
Source: Agencies |
July 6, 2016, Wednesday
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Print Edition
Print Edition
CHINA Eastern Airlines Corp has raised 8.55 billion yuan (US$1.3 billion) in a private sale of shares to a group of investors including China’s biggest online travel agency Ctrip, which becomes the airline’s fifth-biggest shareholder.
China’s second-largest carrier by passengers will use 6.83 billion yuan of the proceeds to purchase new aircraft, and 1.71 billion yuan to repay bank loans, it said in a filing to the Shanghai Stock Exchange yesterday. China Eastern shares rose 3.6 percent to 6.90 yuan while the Shanghai Composite Index added 0.6 percent.
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