China Southern Airlines yesterday confirmed it would raise funds through an A-share listing in Shanghai in the second half of the year.
Management of the mainland's biggest domestic carrier said the listing proceeds would be used to finance new aircraft and to invest in Guangzhou Baiyun International Airport.
Analysts expected the amount raised would be in line with Southern's five billion yuan (about HK$4.69 billion) capital expenditure this year.
Mainland Web site dailynew.dayoo.com quoted a Southern source as saying it would raise four billion yuan from domestic investors.
But the president of Southern, Wang Changshun, said the size of the listing was still being considered.
'The airline has worked towards a listing since the second half last year and has already received the green light from the authorities,' Mr Wang said at the company's annual results briefing.
