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Singapore Airlines to take stake in China Eastern

(China Daily)
Updated: 2007-05-24 08:53

Singapore Airlines will take a 25 percent stake in China Eastern Airlines Corp for HK$7.9 billion through a new share offer, Caijing reported.

China Eastern, one of the country's three biggest carriers, is expected to issue 2.045 billion new H shares to Singapore Airlines at HK$3.88 each, the magazine said, citing sources. China Eastern also plans to issue 1.267 billion H shares at the same price to its State parent, which will hold a 51 percent stake in the company after the share placements, it said.