Southern Airlines plans to offer more shares
(Shanghai Daily)Updated: 2007-04-25 13:47 China Southern Airlines Co, the nation's biggest carrier, said it plans to offer investors more shares as it's seeking to convert non-tradable stock.
The airline plans to issue put options, allowing minority
holders to buy 1.597 yuan-denominated shares for 10 held, up from 0.93 share,
the Guangzhou-based carrier said in a statement yesterday to the Shanghai Stock
Exchange. China Southern is joining a government drive to convert non-tradable
shares into common stock to boost private ownership and to make management more
accountable. China Eastern Airlines Corp, the country's third-largest carrier,
last year offered minority holders of its Shanghai-listed stock 3.2 shares for
every 10 held, Bloomberg News reported. The company's Shanghai-listed shares
will resume trading today.
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