Air China confirms London, Hong Kong IPO

Air China confirms London, Hong Kong IPO Air China, one of the largest Chinese airlines, has gained regulatory approval to list its shares in both London and Hong Kong, as part of an initial public offering aimed at raising $1 billion, the London Stock Exchange said Monday.
   Trading of the shares is scheduled to commence Dec. 15.
   Air China is able to use a single prospectus for its listings in London and Hong Kong due to the similar regulatory environments in the two financial centers, the London Stock Exchange said.
   Air China was the world’s 28th largest international cargo carrier in 2003 when measured in ton-kilometers flown, according to the International Air Transport Association.
   China Southern Airlines, a mainland competitor of Air China, is already listed on the New York and Hong Kong stock exchanges.