deal valued at US$ 923 or HK
$ 7.2 billion. note the lack of use of Mainland Chinese currency in the deal.
"China Eastern will sell a total of 2.98 billion new Class H shares for HK
$11.3 billion in a private placement, according to the report. Class H shares are listed on the Hong Kong Stock Exchange by mainland Chinese companies.
Singapore Airlines will pay HK
$4.7 billion for 1.24 billion of those shares, while Temasek will shell out HK
$2.5 billion for 649 million of them, the report said. The remaining 1.1 billion shares will be purchased by China Eastern's parent, China Eastern Air Holding, for HK
"After the deal, Singapore Air will hold 15.8%, Temasek 8.3%, and China Eastern's parent 51% of China Eastern, the WSJ said."