Air China shares up 2pc after share placement cancelled

Shares in Air China Ltd opened up 2.2 per cent 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 October 9 pending the announcement of the share sale. The stock opened at 5.08 yuan, versus its last close of 4.97 yuan.

via Business feed http://www.scmp.com/business/money/market-snapshot/article/1067864/air-china-shares-2pc-after-share-placement-cancelled