(Yicai Global) Jan. 5 -- Shares of China Southern Airlines, the country's largest air passenger carrier, rose after Qatar Airways said it had bought a 5 percent stake.
Guangzhou-based China Southern [SHA:600029] closed 1.8 percent higher at CNY6.70 (97 US cents) each, after earlier climbing as much as 3.2 percent.
Qatar Airways purchased 8,600 of China Southern's Shanghai-listed stock and 6,000 of its Hong Kong-traded shares on Dec. 28, the Doha-based firm said in a statement yesterday. Chinese law requires companies to make their position public when their shareholding hits the 5 percent mark.
Established in 2003, China Southern's major shareholders include China Southern Airlines Holding and Hong Kong Securities Clearing. Qatar Airways began commercial operations in 1993 and has been wholly owned by Qatar's government since 2013.
Editor: William Clegg