October 23, 2012 / 1:31 AM / 5 years ago

Air China shares open up 2 pct after cancelling share placement plan

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SHANGHAI, Oct 23 (Reuters) - Shares in Air China Ltd opened up 2.2 percent on Tuesday, after the company announced it had cancelled a plan for a private share placement, citing adverse market conditions.

Trading in the company's shares had been suspended since Oct. 9 pending the announcement of the share sale. The stock opened at 5.08 yuan, versus its last close of 4.97 yuan. (Reporting by Pete Sweeney and Kazunori Takada; Editing by Jacqueline Wong)

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