Hainan Airlines plans share sale
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Hainan Airlines is planning to raise up to CNY8 billion (US$1.2 billion) in a private share sale. In a statement to the Shanghai Stock Exchange this week, the state-owned carrier said it will sell up to 1.24 billion new shares for at least CNY6.42 each. Trading in the Hainan Airlines shares has been suspended since Monday. The carrier plans to use CNY6 billion of the proceeds to reduce its debt, with the remaining CNY2 billion to help its fleet expansion plans.
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