China Eastern Airlines to introduce Juneyao Air and Juneyao Airlines as investors

China Eastern Airlines announced (10-Jul-2018) the introduction of two strategic investors in the company through its share placement. The carrier will issue no more than 1.3 billion A shares to Juneyao Group and its subsidiary Juneyao Air, up to 517.7 million H shares to Juneyao Air and its designated subsidiaries, and up to 274 million A shares to China Structural Reform Fund Corporation Ltd. China Eastern said this is a major strategic decision to accelerate the reform of state owned enterprises, develop a mixed ownership structure, and promote state owned enterprises to become stronger and better to serve the national strategy. Following the private share placement, China Eastern Air Holding Company's stake in China Eastern could reduce from 56.38% to 49.13%, remaining the controlling shareholder of China Eastern. Juneyao Air and Juneyao Group intend to own in total not more than 10% of China Eastern while the Structural Reform Fund will own less than 2% of the carrier. [more - original PR - Chinese] [more - original PR - Chinese - II] [more - original PR - III]