Air China postpones non-public offering of shares

Management said it is 'premature' to pursue.

According to an HKEx release, Air China decided not to proceed with its non-public offeirng.

Here's what the announcement said:

Reference is made to the suspension announcement of Air China Limited dated 9 October 2012 in relation to a potential non-public offering of shares of the Company.

During the suspension period, the Company has actively engaged in consultations and discussions with the relevant parties in respect of the Non-Public Offering.

Given that the previous non-public offering of the Company approved by the shareholders of the Company at the extraordinary general meeting of the Company on 26 June 2012 has not completed, in order to provide for better cohesion between the Previous Non-Public Offering and the Non-Public Offering, and in light of the uncertainty as to the proposal of the Non-Public Offering, the Company, after due and careful consideration, has considered that it is premature to implement the Non-Public Offering and has decided not to proceed with the Non-Public Offering.

The Company will continue to carry out the Previous Non-Public Offering and undertake not to resume the consultation and discussion of the Non-Public Offering within three months from the date of this announcement.