SHENZHEN INTERNATIONAL RAISES STAKE IN SHENZHEN AIRLINES TO 49%

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By TESTCustomwebLP TESTCustomwebLP May 16, 2011 08:53

SHENZHEN INTERNATIONAL RAISES STAKE IN SHENZHEN AIRLINES TO 49%

Shenzhen International Holdings is planning to raise its stake in Shenzhen Airlines by 24 percentage points for 788.63 million yuan ($121.5 million). The move by Chinese logistic facilities investor is a bid to tap growing demand for domestic air transportation as Chinese consumption increases.

In a filing to the Hong Kong bourse, Shenzhen International said its wholly-owned Shenzhen International Total Logistics (Shenzhen) Co would buy the equity stake in Shenzhen Airlines from Shenzhen Huirun Investment Co, raising its share in the Chinese airline to 49% from 25%.

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By TESTCustomwebLP TESTCustomwebLP May 16, 2011 08:53
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