Controlling Shareholder of China's Juneyao Air Sells 3% Stake
Shanghai Juneyao (Group) Co., the controlling shareholder of Juneyao Air, has reduced its stake in the carrier by 3%. The transaction involved the sale of 66.2 million shares through a block trade on the Shanghai Stock Exchange. This sale generated approximately CNY768 million (USD106 million) in proceeds. The group stated that the funds will be used primarily to repay debts. Following the sale, the parent company's holding in Juneyao Air has decreased from 53.05% to 50.05%.
Official Source: https://www.ch-aviation.com/news/165050-controlling-shareholder-of-chinas-juneyao-trims-3-stake
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