China Southern Airlines has secured regulatory approval to issue up to 5,436,289,835 new A shares to no more than 35 specific investors, including parent China Southern Air Holding, clearing the way for a planned capital raise of up to CNY15 billion. The approval from China’s securities regulator covers a targeted placement rather than a public offering and gives the carrier 12 months to complete the transaction.
The filing forms part of a financing process that has run through several earlier disclosures this year, with company announcements on 29 April, 6 July and 13 August paving the way for the final registration step. The airline, based in Guangzhou, will need to follow the submitted issuance plan and keep the Shanghai Stock Exchange informed if any material changes arise before completion.
The equity raise is expected to support balance-sheet strengthening and broader funding needs at one of China’s largest carriers. No pricing, completion timetable or breakdown of proceeds has been disclosed in the approval details provided so far.