Shenzhen International's Stake in Shenzhen Airlines to be Diluted

MT Newswires Live
Dec 18

Shenzhen International (HKG:0152) expects its stake in Shenzhen Airlines to dilute after the firm introduced a new investor into the business, according to a Hong Kong bourse filing Thursday.

Shenzhen Airlines announced plans to raise 16 billion yuan in capital earlier this year, with Shenzhen International recusing itself from participating.

Shenzhen International said a new investor, Shenzhen Kunhang Investment Partnership, agreed to invest an initial 2 billion yuan in the entity, while Air China will funnel an additional 2.08 billion yuan.

The investments will dilute Shenzhen International's stake in Shenzhen Airlines to around 28.09% from 49%, with Air China continuing to hold 51% of the business, while Kunhang Investment will hold 20.91%

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10