China Southern Airlines to Up Stake in Subsidiary for 4.50 Billion Yuan

MT Newswires Live

06/01

China Southern Airlines (SHA:600029, HKG:1055) will acquire an additional 31.47% stake in its subsidiary, Chongqing Airlines, for 4.50 billion yuan, according to a Shanghai bourse filing on Saturday.

The airline company's Shanghai shares slipped 1% and Hong Kong shares fell by less than 2% at the close of Monday's trade.

Chongqing Airlines' registered capital will increase to 5.6 billion yuan from 1.2 billion yuan.

China Southern Airlines' stake in Chongqing Airlines will rise to 91.47% from 60% after the transaction.

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