China Southern Airlines Files Up to CNY 15 Billion A-Share Private Placement Plan

China Southern Airlines (600029.SH) has filed a draft prospectus for a 2026 A-share private placement to raise up to CNY 15 billion from no more than 35 designated investors, including controlling shareholder China Southern Air Holding Co., Jiemian News reported. The issuance size will be capped at 30% of the company’s pre-issue total share capital, or up to 5.436 billion shares. According to the filing, eligible investors may include fund managers, securities firms, insurance institutional investors and qualified foreign institutional investors, among others. Investors other than China Southern Air Holding will be determined via bookbuilding after regulatory registration. Net proceeds will be used for two purposes: CNY 10.5 billion to introduce 46 aircraft and CNY 4.5 billion to replenish working capital. The placement requires review by the Shanghai Stock Exchange and registration approval from the China Securities Regulatory Commission (CSRC). The application has been accepted by the Shanghai Stock Exchange, and the timing and outcome of approvals remain uncertain.