China Express Airlines (G5, Chongqing) has unveiled its provisional investors' prospectus ahead of a proposed Initial Public Offering (IPO) on the Shenzhen Stock Exchange later this year.
According to a filing with the China Securities Regulatory Commission (CSRC), the privately-owned carrier intends to offer 40.5 million new shares, or 10.11% of its total share capital post-IPO, up to investors. It hopes to raise up to CNY1.68 billion yuan (USD244.7 million) which will be put towards the purchase of six CRJ-900 aircraft, three engines, and the construction of a China Aviation Training Center (School) Project (Phase I).
China Express Airlines currently operates a fleet of twenty-eight CRJ900ERs on scheduled passenger flights to seventy-eight destinations across China from bases at Chongqing, Dalian, Guiyang, Hohhot, and Xi'an Xianyang.
Should the CSRC approve the application, China Express Airlines will become China's eighth listed domestic airline and the first listed domestic feeder carrier.
