Air China Limited

Excess Baggage at Air China
Days after investors successfully blocked connected loans from China Oilfield Services to its parent group, the Air China IPO touches down in Hong Kong, and deep in the prospectus we find a Stock Exchange waiver for it to lend up to RMB5bn, equivalent to 72% of the IPO proceeds, to a subsidiary of its parent. Here's what you need to know. (3-Dec-04)

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