Baiyun Airport plans significant share issuance to boost capital

Guangzhou Baiyun International Airport Co., Ltd. (Baiyun Airport) plans to issue up to 210,526,315 A-shares to specific targets, aiming to raise a maximum of RMB 1.6bn to replenish working capital. The issuance, with a pricing date of July 12, 2024, is set at RMB 7.60/share after adjustments for 2023 and 2024 dividend distributions. The controlling shareholder, Airport Group, will subscribe to all shares, increasing its stake from 57.20% to 60.68%, enhancing ownership stability.

The company's financial performance showed recovery in 2023-2024, with revenue reaching RMB 7.42bn in 2024 and RMB 3.72bn in the first half of 2025. This move aims to optimize the capital structure, improve solvency, and mitigate financial risks, following a period of fluctuating performance. The issuance received board and shareholder approval, with regulatory clearance pending from the Shanghai Stock Exchange and China Securities Regulatory Commission.