Manufacturing Industry
Air China planning USD1bn IPO
Airline Industry Information, Nov 12, 2004
AIRLINE INDUSTRY INFORMATION-(C)1997-2004 M2 COMMUNICATIONS LTD
China's national carrier Air China is reportedly hoping to raise USD1bn through an initial public offering (IPO) on the Hong Kong stock exchange in December 2004.
The airline is set to sell 2.8m shares equalling a 30% stake with a fund-raising target of USD1bn. The report from Dow Jones said that the likely listing date would be 16 December 2004 although no one from Air China would comment. China's two other major airlines China Southern and China Eastern are already listed on the Hong Kong exchange.
Dow Jones also reported that Air China plans to list some shares in London. The airline is expected to receive approval for the IPO from the Hong Kong stock exchange on 12 November 2004.
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