December 10, 2009 (Ting Ting Lin) China Eastern Airlines (HKG:0670) (NYSE:CEA), the second largest Chinese carrier by fleet size following the merger with Shanghai Airlines (SHA:600591) at the end of November, announced a successful share placement of additional 490,000,000 H-Shares on the Hong Kong Stock Exchange. Price of each share was HK$1.65 per H-share. This action is going to be followed by a similar A-share placement on the Shanghai Stock Exchange. The Company followed up with the Agreement made in July 10, 2009 at a time when it got cash infustion from the Chinese Government. The Government controlled parent company got 490 million H-shares worth HK$808.5 million (US$104.31 million).
The share structure of China Eastern Airlines (NSE:CEA) changes as follows:
| Shareholders |
Shareholders
Prior to completion
of the issuance of
new H Shares
|
Immediately after completion of the issuance of new H Shares |
| Number of shares | Number of shares | |
| CEA Holding | 4,341,375,000 | 4,341,375,000 |
| CES Global | 1,437,375,000 | 1,927,375,000 |
| Public | 1,962,950,000 | 1,962,950,000 |
| — A Shares | 396,000,000 | 396,000,000 |
| — H Shares | 1,566,950,000 | 1,566,950,000 |
| TOTAL | 7,741,700,000 | 8,231,700,000 |
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