Source: Toronto Star Author: 07/10/2008
Subject Concerned: Government Airlines
Air China Ltd., the nation's largest international carrier, said it won approval from the securities regulator to issue up to 400 million class A shares on mainland China's stock market.
The approval, received from the China Securities Regulatory Commission on July 8, is valid for six months, the company said in a statement to the Shanghai Stock Exchange on July 9.
The Beijing-based airline said on May 30 that it will spend up to 1.5 billion yuan (C$22 million) of the share sale proceeds replenishing working capital and paying back loans.