Hong Kong Airlines files ahead of landmark IPO

The short-haul carrier will target retail investors with its dual-currency offering, hoping to tap into Hong Kong's massive renminbi reserves.

Hong Kong Airlines has filed its listing application with the city’s exchange ahead of its proposed landmark $500 million dual-currency listing later this autumn.

The short-haul carrier will be the first to offer two sets of shares in renminbi and Hong Kong dollars, under the sole lead of JP Morgan. Each set of shares carries its own stock code but are fully fungible and stakeholders have the same rights.

Friday’s filing on the Hong Kong Stock Exchange did not unveil details of how many shares will be on offer, provide an indicative price range or mention what percentage of enlarged share capital the deal will represent.

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