Air China has announced plans to raise approximately CNY20 billion (USD2.9 billion) through a private placement of A-shares, which has been accepted for review by the Shanghai Stock Exchange as of January 8. The company intends to issue up to 3.04 billion shares at CNY6.57 (USD0.9) per share, with proceeds aimed at debt repayment and working capital enhancement.
The controlling shareholder, China National Aviation Holding, along with its subsidiary China National Aviation Capital Holding, will fully subscribe to the issuance. This strategic move is part of Air China's ongoing efforts to bolster its financial standing amid industry challenges.
Full Story: Shanghai Stock Exchange
