Baiyun airport to raise ¥1.6bn via private placement

Guangzhou Baiyun International Airport Co. Ltd. will issue up to 210,526,315 A-shares in a private placement, raising a maximum of ¥1.6bn. The sole subscriber is the company's controlling shareholder, Guangdong Airport Management Group Co. Ltd., which will use cash to fully subscribe to the offering. The issuance price is set at ¥7.70 per share, adjusted for prior equity distributions. Following cash dividends, the adjusted price will be ¥7.60 per share.

The proceeds, after deducting issuance expenses, will be entirely allocated to supplement working capital, enhancing the company's liquidity and strengthening its capital structure. This move is expected to improve the company's ability to capitalize on the recovering aviation market and boost overall competitiveness. Upon completion, Guangdong Airport Management Group Co. Ltd.’s stake will increase from 57.20% to 60.68%, ensuring stable control.

The transaction constitutes a related-party transaction, approved by the board of directors and shareholders, with related parties abstaining from voting. The offering has received approval from the Shanghai Stock Exchange and the China Securities Regulatory Commission.