Stocks News
- Grand China Airlines plans listing
Date: 8-Mar-2007 Sources: (Shenzhen Daily)
GRAND China Airlines, part-owned by U.S. financier George Soros, said yesterday it may raise more than 5 billion yuan (US$645.8 million) in a Hong Kong stock sale this year.
'We are actively preparing for the sale, aiming to make it happen this year,'' chairman Chen Feng said. 'We will need the funds to buy a lot of new planes from both Airbus and Boeing Co.,'he said, without elaborating. Grand China, the parent of Shanghai-listed Hainan Airlines Co., follows Air China Ltd. and other domestic airlines in selling shares to fund expansion.
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