Spring Airlines announced its application for a private offering of A shares has been approved by the China Securities Regulatory Commission.
The proposal indicates that Spring Airlines will make a private offering of up to 76.7918 million shares for at least RMB58.60 per share to raise up to RMB4.5 billion (approx: US$703.5 million). The funds raised in the offering will be used to purchase 21 Airbus A320 aircraft and install inflight internet on its aircraft. Spring Airlines share price closed at RMB57.49 on December 2.(Translation by David)
