China Southern Airlines Wins Approval to Raise RMB 15 Billion via Share Placement
China Southern Airlines has received regulatory approval for its private placement of shares, clearing the way to raise RMB 15 billion by issuing up to 5.436 billion new shares. The carrier's application review status was changed to approved, with China International Capital Corporation Limited appointed as sponsor for the transaction. The capital-raising scheme will bolster the airline's financial position.
The review status of China Southern Airlines Co.' s application for a private placement of shares has been changed to approved. Under the plan, the carrier will issue no more than 5.436 billion new shares to raise RMB 15 billion in gross proceeds. China International Capital Corporation Limited will serve as the sponsor for the issuance.
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The event has a measured impact on 1 industry. The strongest current signal is positive for Air Transport, with intensity 20/100 and 60% confidence over a medium term horizon.
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