State-run Air China is awaiting approval for a US$1 billion domestic share offering, the Shanghai Securities News reported Wednesday, citing Zheng Baoan, board secretary of Air China. The airline earlier said it planned to issue as many as 2.7 billion A-shares, priced no lower than 90% of the average price of its Hong Kong shares, during an unspecified "consultation period". There is no timetable for the IPO. The airline's shares fell 1.7% to US$0.37 on Hong Kong's stock exchange yesterday.
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