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China Eastern’s cargo unit files for $348m listing

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Tonyv3112 dreamstime.com
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China Eastern Airlines’ logistics arm has filed for an IPO to raise Rmb2.4bn ($348m). Eastern Air Logistics has been restructuring for two years, and the Chinese state now holds 45% while private investors hold the rest. The proceeds will be used to invest in logistics facilities, network improvements and technology and equipment upgrades, reports Caixin Global.  

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