China Southern Airlines Plans Up to RMB 15 Billion Connected A-Share Issuance
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China Southern Airlines plans to issue up to 5.44 billion new A shares to raise up to RMB 15 billion, primarily for purchasing new aircraft and supporting working capital. The private placement involves up to 35 investors, including its controlling shareholder, China Southern Air Holding, which will subscribe between RMB 5 billion and RMB 10 billion. This transaction is subject to regulatory approvals and may not proceed. The latest analyst rating for the stock is a Sell with a price target of HK$3.40.
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