China Eastern Airlines has raised 6.4 billion yuan ($939 million) in capital, after completing a sale of shares.
The 1.35 billion Shanghai-listed A-shares were issued at 4.75 yuan per share, raising total proceeds of 6.4 billion yuan, says the Shanghai-based carrier.
Ten government enterprises, including the airline's parent China Eastern Air Holding Company (CEA Holding), received the shares, it adds.
CEA Holding's stake in the carrier was reduced to 50.4% from 52.7% after the transaction.
The share issuance will help to fund China Eastern's acquisition of rival Shanghai Airlines.
China Eastern offered in July to take over Shanghai in a 9 billion yuan deal. Legal procedures for the merger are expected to be completed by year-end.
Source: Air Transport Intelligence news
