Deals
Air China to Raise $1.9 Billion in Share Sale to Buy Planes
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Air China Ltd., the country’s largest carrier by market value, plans to raise as much as 12 billion yuan ($1.9 billion) from a private placement of new shares amid volatility in the domestic stock market.
The Beijing-based airline plans to sell as many as 994 million shares for at least 12.07 yuan each, using the money to buy 15 Boeing Co. 787 planes, the carrier said in a Shanghai exchange filing Tuesday. The shares will be sold to as many as 10 investors, including the airline’s parent, China National Aviation Holding Co.