Stocks News
- Grand China Airlines eyes HK IPO
Date: 24-Apr-2007 Sources: (Shenzhen Daily)
HAINAN-BASED Grand China Airlines plans to raise about US$2 billion in an initial public offering (IPO) in Hong Kong later this year, the South China Morning Post reported yesterday.
The newspaper cited Grand China Air's chairman Chen Feng as saying the company will list shares as a Hong Kong-incorporated firm to get higher valuation, rather than as a mainland-incorporated company. The aviation authorities earlier this month granted an operating license to Grand China Airlines, which plans to take over the main assets of Shanghai-listed Hainan Airlines Co. and three other small airlines.
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