Hainan Airlines Holding Co. is seeking to sell shares listed in Shanghai to investors including a unit of Singapore’s sovereign investment fund Temasek Holdings Pte, according to a statement to the stock exchange Saturday.
The air carrier said it plans to raise as much as 7 billion yuan ($1.09 billion) by selling as much as 20 per cent of its shares to no more than 10 investors, including Temasek Fullerton Alpha Pte Ltd. The sale proceeds will be used to fund plane purchases, aviation training, maintenance and airport business. A spokesman for Temasek confirmed the filing and declined to comment further.
