China Southern seeks $315 mln in private placement

By Andrew Galbraith

SHANGHAI--China Southern Airlines Co. aims to raise up to CNY2 billion ($315 million) through a private A-share placement to its controlling shareholder to boost capital, the airline said Tuesday.

In a statement to the Hong Kong stock exchange, China Southern said it will issue no more than 465,116,279 new A shares at a subscription price of CNY4.30 each to China Southern Air Holding Co.

The non-public offering will be issued pending regulatory approval. Trading in China Southern's H-shares will resume Tuesday after having been suspended on June 5, the statement said.

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