China Southern Airlines plans to list logistics subsidiary on the Chinese stock exchange

0
85
China Southern Airlines Boeing 737-800


China Southern Airlines is planning to list its subsidiary China Southern Air Logistics Company on the mainland Chinese stock exchange. The logistics wing was established in 2018 and provides services, including warehousing, supply chain management and e-commerce tools, as well as cargo flights.

Read more: Singapore Airlines ramps up East and Southeast Asia network

“The logistics company intends to prepare for a listing in the stock exchange in the People’s Republic of China (PRC) due to its business development. China International Capital Corporation Limited acts as the tutoring institution in relation to the Listing. The listing of the logistics company is still in its early preparation stage,” China Southern Airlines said in a filing with the Hong Kong Stock Exchange. “As at the date of this announcement, logistics company has not submitted any official application for listing to any relevant regulatory authorities in the PRC.”

“The proposed domestic listing of the logistics company is also subject to approval or clearance by regulatory authorities including the China Securities Regulatory Commission, the Shanghai Stock Exchange and The Stock Exchange of Hong Kong Limited, and there exists uncertainty as to whether the listing will ultimately be approved or the timing of such approval. The company will strictly comply with the requirements of relevant laws, regulations, departmental rules and regulatory documents and will fulfil its information disclosure obligations in a timely manner according to the progress of the listing of the logistics company.”

Read more: Freight forwarders connect Asia to the world

China Southern Airlines operates eleven B777-200Fs from its base in Guangzhou. China Southern Air Cargo also flies three B777-200Fs.