Air China plans share sale

Guest Writer

Air China Ltd plans to raise approximately US$954 million in a share sale to pay off its debts, Bloomberg has reported. The Beijing-based carrier will sell up to 585 million new Shanghai-listed shares for at least CNY9.58 (US$1.40) each, it was reported saying in a statement to the Hong Kong stock exchange. The shares will be offered to as many as 10 investors, including its controlling shareholder, China National Aviation Holding Co. It will also sell as many as 157 million new Hong Kong-listed shares to a unit of its parent for at least HK$6.62 per share.

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