SHANGHAI: China Southern Airlines will make an initial public offering of one billion A-shares on Thursday to raise 2.7 billion yuan (US$326.2mil) to buy new aircraft.
The shares would be priced at 2.7 yuan each and listed on the Shanghai stock exchange, China's top carrier said in its prospectus published in the official Shanghai Securities News. The airline said it would use the proceeds to acquire 20 aircraft from Boeing Co as part of its fleet expansion to cater to the rapidly growing domestic travel market.
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