The application of China Southern Airlines (CZ, Guangzhou) to raise up to CNY15 billion yuan (USD2.2 billion) through an A-share placement has been accepted for review by the Shanghai Stock Exchange. The airline may issue up to 5,436,289,835 shares to no more than 35 investors, with China Southern Air Holding subscribing CNY5 billion (USD737.4 million) to CNY10 billion (USD1.5 billion). China Southern Airlines intends to use CNY10.5 billion (USD1.6 billion) for 46 aircraft - twenty-six A320neo family jets, twelve C919s, and eight B737 MAX family jets - and CNY4.5 billion (USD663.7 million) for working capital.