China Eastern issues more shares

China Eastern Airlines Co Ltd has issued new A shares, with a total subscription price of 2.29 billion yuan ($362 million), and new H shares, worth HK$1.62 billion ($209 million), the company announced on Tuesday.

China Eastern Air Holding Co and CES Finance Holding Co Ltd have entered into a subscription agreement to buy the A shares, which can generally be bought only by mainland residents, with China Eastern Airlines.

After the completion of the subscription, China Eastern Air Holding, which is the controlling shareholder in the airline, will hold 43.63 percent of the enlarged total share of the company's capital.

CES Global Holding Ltd will subscribe in cash to 698,865,000 new H shares - which are sold on the Hong Kong stock exchange - at a subscription price of HK$2.32 a share, according to the subscription agreement.