China Eastern's Parent Company Increases Stake with $23 Million Share Purchase
China Eastern Air Holding, the parent company of China Eastern Airlines, has increased its ownership in the carrier through a significant share purchase. On June 12, the state-owned firm acquired over 40.5 million A-shares for approximately USD 22.7 million. This transaction raised the parent company's total stake in the airline to 40.64%. The move is the first part of a larger investment plan scheduled over the next 12 months, which could total up to USD 827 million. This investment demonstrates the parent company's strong confidence in the future prospects and long-term value of China Eastern Airlines.
Official Source: https://www.ch-aviation.com/news/165045-china-eastern-airlines-parent-raises-stake-with-23mn-buy
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