China Eastern's Parent Company Boosts Stake with $23 Million Share Purchase
China Eastern Air Holding, the state-owned parent of China Eastern Airlines, has increased its stake in the carrier through a significant share purchase. The company acquired shares worth approximately USD23 million on both the Shanghai and Hong Kong stock exchanges between May 31 and June 12. This transaction is part of a larger, previously announced plan to invest up to USD276 million to increase its holding over a 12-month period. The move is interpreted as a strong vote of confidence in the airline's future prospects and stability. Following the purchase, the parent company's total stake in China Eastern Airlines has risen to 58.74%.
Official Source: https://www.ch-aviation.com/news/165045-china-eastern-airlines-parent-raises-stake-with-23mn-buy
Related Aviation News:
- China Eastern Airlines' Controlling Shareholder Plans 12-Month A-Shares Purchase Plan
- China Eastern Airlines Corporation (00670) received a cumulative increase of 19.61 million A-shares by its controlling shareholder, China Eastern Air Holding Group.
- 5 charts show China’s oil dilemma after US strikes on Iran
- Delta, Korean Air and Air France-KLM finalize WestJet minority share purchase
- China Eastern issues new shares for fleet purchases |