CS-AIR RAISES RMB 2.7B FOR REPLACEMENT OF BOEING AIRCRAFTS
AsiaInfo Services, July, 2003
AsiaInfo Services 07-15-2003 CS-Air Raises RMB 2.7b for Replacement of Boeing Aircrafts CHINA, Jul 15, 2003 (SinoCast via COMTEX) -- China Southern Airlines Co. Ltd. (CS-Air) issued 1 billion floating shares at RMB 2.70 per share on the secondary market on Shenzhen and Shanghai stock markets late last week.
It will help CS-Air raise RMB 2.7b on domestic A-share market. According to the prospectus for recent public offering, CA-Air will engage all funds (after deducting issuance expenses) in import B737-800 aircrafts and relevant airborne equipments. Chair of CS-Air Yan Zhiqing stated during an interview that the company will use most of the funds raised via this offering to purchase B737-800 to replace B737-300 and B737-500 that are due for return. B737-800, he...
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