Air China trade halted pending share placement plan
HONG KONG, Apr 20: Air China’s shares in Hong Kong and Shanghai were suspended on Friday pending details about a planned private placement of shares, the carrier said.
Shares of Air China in Hong Kong have fallen 10.8 percent so far in 2012.
Air China said in a statement posted on the Shanghai Stock Exchange late on Thursday that it was planning a private share placement and, separately, it would receive 1.05 billion yuan ($166.6 million) from its parent.
The company had said in August that it would receive 1 billion yuan from its parent to fund the previous purchase of Cathay Pacific shares.
On Thursday, the airline added it would receive an additional 50 million yuan from its parent. (AGENCIES)

Follow our WhatsApp channel