China Eastern Parent Boosts Stake with $23 Million Share Acquisition
China Eastern Air Holding (CEA Holding), the state-owned parent of China Eastern Airlines, has increased its stake in the carrier. The entity purchased over 81 million H-shares for approximately USD 22.84 million in a transaction on June 13. This latest buy raises CEA Holding's total ownership in the airline to 49.56% from 49.33%. The move is part of a broader 12-month plan announced in February for the parent company to systematically increase its shareholding. This investment comes as the airline's shares have been trading near a 52-week low while it continues its post-pandemic recovery.
Official Source: https://www.ch-aviation.com/news/165045-china-eastern-airlines-parent-raises-stake-with-23mn-buy
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