Nov. 15, 2012 (China Knowledge) - China International Travel Service Corp Ltd<601888>, the largest travel agency in China, has announced it plans to raise no more than RMB 2.65 billion through a private placement.
According to a statement filed with Shanghai Stock Exchange
, the company said it will issue up to 98.5 million A- shares with a price of RMB 26.93 per share.
Proceeds from the issue will be used to invest a shopping center project in Haitang Bay, Hainan
In the first nine months of this year, China International Travel Service realized RMB 779 million in net profit attributable to shareholders, 39.86% more than in the corresponding period of last year.