Air China: a phoenix rising from the ashes?

Company hopes easing oil prices will lift IPO.

China's flagship carrier Air China began pre-marketing a $800 million to $1 billion IPO on Monday under the lead management of CICC and Merrill Lynch. Based on December 2005 profit forecasts of $305 million to $333 million, the deal is being pitched on a forward multiple of 8 to 10 times earnings.

At the mid point of this range, the deal is being marketed at a 4% premium to China Eastern, a 10% discount to China...

To continue reading, please login or register for free

Click for more on: air | china | phoenix | rising | ashes

Print Edition

FinanceAsia Print Edition

CONFERENCES

  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...