Parent firm of China Southern receives US$4b cash
The holding company behind China Southern Airlines will receive a cash injection of US$4.36b from 3 fund-management firms, the company said in a filing to the Hong Kong stock exchange. The money is intended to boost its war chest for overseas expansion. In its filing, the airline said its parent, China Southern Air Holding (CSAH), had entered into a capital increase agreement with 3 investors “to implement the relevant requirements of the Central Committee of the Communist Party of China and the State Council on deepening the [equity diversification] reform of state-owned enterprises.” The proceeds will be used primarily to boost China Southern’s core air transport business. The move does not change CSAH’s status as one of the 96 state-owned enterprises supervised by the central govt. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-07-23/unaligned/parent-firm-of-china-southern-receives-us-4b-cash
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Parent firm of China Southern receives US$4b cash
The holding company behind China Southern Airlines will receive a cash injection of US$4.36b from 3 fund-management firms, the company said in a filing to the Hong Kong stock exchange. The money is intended to boost its war chest for overseas expansion. In its filing, the airline said its parent, China Southern Air Holding (CSAH), had entered into a capital increase agreement with 3 investors “to implement the relevant requirements of the Central Committee of the Communist Party of China and the State Council on deepening the [equity diversification] reform of state-owned enterprises.” The proceeds will be used primarily to boost China Southern’s core air transport business. The move does not change CSAH’s status as one of the 96 state-owned enterprises supervised by the central govt. <br/>
