Air China raises RMB 5.6 bln through private placement

<601111><0753>Air China Ltd., commercial airline second largest in the country, announced yesterday that it has raised up to 5,6 billion RMB in a private placement To-share, reported sources.

The company said in a statement issued to head 484 million shares at 11: 58 pm RMB. taken from question will constitute the capital of the company.

According to sources, seven subscribers participated in the private placement, including China National Aviation Holdings Co, New China Life Insurance Co, Youngor Group Co Ltd <600177>and Guohua Life Insurance Co Ltd.

Air China also plans to raise HK $ 1.04 billion through a private placement H-share. It will issue 157 million shares at HK $ 6.62 apiece.

In the first nine months of this year, Air China has achieved revenue of RMB 58.93 billion, surging 62 19% year on year, with earnings per share of RMB 0.80, 150% year-over-year.

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