Beijing Capital International Airport Co Ltd said on Friday it would buy a terminal and other assets at the Beijing capital airport from its parent for 15.62 billion yuan (US $1.98 billion).
The company said in a statement it would fund the acquisition through the sale of up to 800 million A-shares, a loan of up to 500 million euro ($634.7 million) from the European Investment Bank and the issue of about 10 billion yuan worth of fixed-income securities.
The proposed A-shares, representing about 19.78 percent of its existing share capital, or 16.51 percent of its enlarged share capital, would be listed in Shanghai, it said. Beijing Capital International Airport is gearing up for a flood of activity related to the city's role as host of the 2008 Summer Olympic Games.
Last month, the company raised about US $131 million through the sale of 200 million of its Hong Kong-listed shares for general working capital requirements, including the renovation and expansion of its operated facilities. Shares in the company have surged 46 percent so far this year, in line with a 42 percent gain in the index of 37 mainland companies listed in Hong Kong.