CHINA EXPRESS AIRLINES CO.,LTD China Express Airlines Co.,LTD announced that it has entered into share subscription agreement for private placement of not more than 304,070,293 A shares for gross proceeds of not more than CNY 2,500,000,000 on January 24, 2022. The transaction will involve participation from not more than 35 investors, including returning investors China Express Airlines Holding (Shenzhen) Co., Ltd., China Express Airlines Holding (Shenzhen) Co., Ltd., and Shenzhen Rongda Supply Chain Management Partnership Enterprise (Limited Partnership) with a total subscription amount of not less than CNY 500,000,000 and not more than CNY 1,500,000,000. The issue price shall not be lower than 80% of the average trading price of the company's shares in the 20 trading days prior to the pricing base date.
The shares subscribed by China Express Airlines Holding (Shenzhen) Co., Ltd., Shenzhen Ruicheng Environmental Technology Partnership Enterprise (Limited Partnership), Shenzhen Rongda Supply Chain Management Partnership Enterprise (Limited Partnership) shall not be transferred within 18 months from the date of the end of the issuance. The shares subscribed by other investors shall not be transferred within six months from the date of the end of the issuance. China Express Airlines Holding (Shenzhen) Co., Ltd., currently holds 324,000,000 shares of the company, accounting for 31.97% of the company's total share capital.
The transaction has been approved by the 23rd meeting of the second board of directors of the company and is still subject to company's general meeting of shareholders, CAAC Southwest Regional Administration, and China Securities Regulatory Commission.
