China Southern Airlines' initial public offer on the New York and Hong Kong stock exchanges raised $631 million, in what represents the largest single float of a Chinese airline stock to date. The offering, representing around 32% of the carrier, was sold at the upper end of the target range and the share prices rose strongly once trading began. The New York offer was ten times over-subscribed, although there was less demand for the small Hong Kong tranche.
Source: Flight International