Guangzhou Baiyun International Airport to be Listed

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Last updated at: (Beijing Time) Wednesday, April 09, 2003

Guangzhou Baiyun International Airport to be Listed

The Guangzhou Baiyun International Airport Co. Ltd, which operates one of China's three largest airports, Wednesday announced it will issue 400 million A shares.

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The Guangzhou Baiyun International Airport Co. Ltd, which operates one of China's three largest airports, Wednesday announced it will issue 400 million A shares.

The company will receive 2.35 billion yuan (284.16 million US dollars) through the initial public offering at a price of 5.88 yuan (0.71 US dollar) per share, a company source said Wednesday.

The company will be listed on the Shanghai Stock Exchange.

The funds raised on the stock market would be used to expand the airport, the source said.

Founded on September 19, 2000, with registered capital of 600 million yuan (72.55 million US dollars), the company runs the Guangzhou Baiyun International Airport used by 147,700 aircraft last year carrying 16.01 million passengers and 592,600 tons of cargo.

The company reported an operating revenue of 938 million yuan (113.42 million US dollars) last year with a total profit of 368 million yuan (44.50 million US dollars) and earnings per share of 0.48 yuan (5.8 cents).

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