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China Meilan Airport plans $214 mln A-shr IPO-paper

Wed May 14, 2008 11:04pm EDT

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SHANGHAI, May 15 (Reuters) - Hainan Meilan Airport Co (0357.HK) plans a domestic initial public offering in the first half of next year to raise 1.5 billion yuan ($214 million), the China Business News said on Thursday.

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The airport, controlled by state-owned HNA Group, will use the proceeds to fund the purchase of airport assets from its parent, which operates 12 other domestic airports, the paper said, citing an unnamed HNA executive.

An HNA representative was not immediately available for comment.

HNA is the parent of Hainan Airlines Co (600221.SS), which is partially controlled by billionaire financier George Soros. ($1=7.002 Yuan) (Reporting by Fang Yan; Editing by Edmund Klamann)

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