China Eastern raises US$572 mil. in share sale to state-owned firm
September 13, 2012, 12:30 pm TWN
HONG KONG -- China Eastern Airlines Corp. is raising US$572 million by selling new shares to its state-owned parent to trim its heavy debt burden as it pursues an aggressive fleet expansion in China's booming aviation market.
The Chinese carrier said late Tuesday that it's selling nearly 1.4 billion new shares on the Hong Kong and Shanghai stock exchanges to China Eastern Air Holding Co.