Hainan Airlines plans to be the first Chinese carrier to go ahead with a public flotation on the Shanghai stock exchange. The rapidly growing domestic airline hopes to proceed with the public offer shortly, following approval from the local Chinese regulatory commission. The airline is one of China's most progressive, and has already sold a 25% interest to American Aviation Investment and US financier George Soros. The offer will be underwritten locally by J&A Securities and internationally by WI Carr Indosuez Capital Asia and Crosby Capital Markets. The cash raised will be used to lease new aircraft.
Source: Flight International
