China Mobile Vies for Subscribing A-shares of China Eastern Airlines

Updated:2023/1/30 12:26

On January 6, China Eastern Airlines announced that it had completed the issuance of A shares after a non-public capital raising of 15 billion yuan that targeted specific shareholders. It intended to use the funds raised to acquire 38 new aircraft and increase its day-to-day working capital reserves.

China Mobile Investment Holdings successfully allocated 160 million shares of China Eastern at 4.39 yuan/share, with a share ratio of 0.72% after investment and a total investment of 707 million yuan. On January 12, China Eastern Airlines completed the registration of new shares and the official issuance. This investment will help foster a closer tie between China Mobile and China Eastern Airlines to leverage their strengths, to deepen their win-win cooperation in smart civil aviation, basic communication, joint marketing, equity operation and capital operation. In that way, both of them can bolster their brand image, promote their influence in the industry chain, and integrate 5G+ with smart civil aviation and smart airport applications in an innovative way.

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