Shares in China Southern Airlines Listed on Stock Market

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Last updated at: (Beijing Time) Sunday, July 27, 2003

Shares in China Southern Airlines Listed on Stock Market

One billion A shares in China Southern Airlines Company have been listed on the Shanghai Stock Exchange to raise funds to purchase new aircraft.

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One billion A shares in China Southern Airlines Company have been listed on the Shanghai Stock Exchange to raise funds to purchase new aircraft.

The shares were traded at Friday's opening at a price of 3.91 yuan and closed at 3.88, with more than 588 million shares changing hands.

On July 10, the shares were sold to institutional and individual investors in the second tier of the markets at 2.7 yuan(0.3 US dollars) per share.

Most of the revenue will be used to purchase Boeing 737-800 aircraft, said an official of the company.

By the end of 2002, the airline had 122 aircraft and 349 operational routes. It carried more than 20 million passengers last year, accounting for a quarter of China's aviation market.

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