Aviation News
- Eastern Air wins nod for stock reform
Date: 8-Jan-2007 Sources: (Shenzhen Daily)
CHINA Eastern Airlines, which is in talks with several foreign companies, including Singapore Airlines, for a possible stake sale, said Friday it had won government approval for its domestic stock reform.
China Eastern, the country's third-largest airline, said in a stock filing to the Shanghai Stock Exchange that the Ministry of Commerce had approved its stock reform plan for its Shanghai-listed shares. Under the plan, State-owned China Eastern Air Holding Co., the parent of the listed company, agreed to offer its minority shareholders 3.2 additional shares for every 10 Shanghai-listed shares for the right to convert government holdings into tradable shares.
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