China Eastern Airlines raises $250m

Article Abstract:

The initial public offering for China Eastern Airlines was 22 times oversubscribed, but its shares rose only slightly when it listed on the Hong Kong stock exchange in Feb 1997. This was partly the result of the decision by the Chinese government to reduce domestic air fares for foreigners travelling in China. The airline raised around $245 million in a dual listing in Hong Kong and New York, of which around $135 million will be used to purchase new aircraft, spare parts and equipment.

Scheduled Airlines, Scheduled Air Transportation, Air Transportation, Scheduled, And Air Courier Services, Hong Kong, Going public (Securities), Initial public offerings, China Eastern Airlines Corporation Ltd.

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Germany speeds up Lufthansa sale

Article Abstract:

Germany's government has been pressured to maintain the speed of its privatization program because of its need to meet the budgetary requirements of the European Monetary Union. A sale of its 36.6% stake in airline Lufthansa is to take place in 1997. Separately, the state's remaining Deutsche Telekom shares will not be publicly offered until 2000, but 25% will be placed with state-owned bank Kreditanstalt fuer Wiederaufbau.

COMMUNICATION, Communications, Broadcasting and Telecommunications, Germany, Telecommunications services industry, Telecommunications industry, Deutsche Telekom AG, Privatization, Privatization (Business), Deutsche Lufthansa AG, Government business enterprises, Public enterprises

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China Southern airline takes off at last

Article Abstract:

The sale of some 31.9% of airline China Southern is expected to raise around $627 billion through share sales in New York and Hong Kong, with trading due to begin at end-July 1997. Other Hong Kong-listed Chinese organisations to benefit from overseas listings include Angang New Steel. Among planned offerings are Shandong Yanzhou Mining and Anhui Xinji Energy Development.

China, China Southern Airlines Company Ltd.

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