BREAKING NEWS

BREAKING NEWS

Air China share rise on stock sale

Now Reading:

Air China share rise on stock sale

Text size Aa Aa

Air China’s shares soared to a two-year high as it announced it will raise 690 million euros by selling new stock.

Investors believe Air China, which is the world’s largest in terms of market value, will use the money to buy up or take strategic stakes in other Asian airlines.

Earlier this week, rival China Southern announced it is to sell 1.1 billion euros worth of new shares.