Shenzhen Airport, the fifth-biggest airport operator in the mainland, said it plans to sell shares to its parent in exchange for airport assets valued at up to 1.1 billion yuan. Shares of Shenzhen Airport rose 10 per cent, the daily limit allowed by the market regulator, on the news yesterday to close at 5.46 yuan, up from its previous traded price of 4.96 yuan last Thursday. The stock was suspended on Friday. Trading volume of Shenzhen Airport shares reached 189 million yuan yesterday, the highest level since early July. The shares have gained 53 per cent so far this year. Shenzhen Airport said it will issue new shares priced at 4.9 yuan each to buy assets including the airport's control centre and car park complexes, which are valued at between one billion yuan and 1.1 billion yuan, from its parent Shenzhen Airport Group. 'The deal will help the listed company gain full operational assets,' said Ella Li, a Shanghai-based analyst with Shenyin Wanguo Securities. 'It will help the Shenzhen Airport's revenue increase by 10 per cent over the next two years.' China's airport operators, mostly managed by municipal governments, are gradually injecting assets into their listed units which usually only had terminal-related assets when they went public. Hong Kong-listed Beijing Capital International Airport and Shanghai-listed Shanghai International Airport have already received full assets from their parents, while Xiamen International Airport and Guangzhou Baiyun International Airport still need to buy assets to set up a service chain. 'It is a trend for airport operators to list their whole assets, instead of only terminals,' Ms Li said. She said the move will help listed airport operators reduce internal connected transactions with the parents and raise operational efficiency. Shenzhen Airport also said it will increase the portion of the passenger fee generated from the airport it can book as income to 100 per cent from 95 per cent. The company also plans to buy the second runway, expected to become operational by 2010 but it did not give any timetable. Passenger throughput for Shenzhen Airport increased 20 per cent to 9.1 million in the first half of this year while cargo throughput rose 21 per cent to 254,600 tonnes. Its net profit increased 14 per cent to 208 million yuan with revenue jumping 18 per cent to 568 million in the six months.