COPENHAGEN, Denmark, Nov. 13, 2002 (PRIMEZONE) -- With reference to our announcement dated October 17, 2002 concerning Copenhagen Airports A/S' investment in Hainan Meilan Airport Company Ltd. in China, we are pleased to announce that the Meilan Airport has been completed at a price of HKD 3.78 per share, and that the international placing was oversubscribed 10 times.
Copenhagen Airports A/S' 20% stake in Meilan Airport will amount to HKD 339.1 million (DKK 319.7 million), prior to any exercise of the overallotment option. If the overallotment option is exercised in full, Copenhagen Airports A/S' investment will amount to HKD 357.8 million (DKK 337.3 million).
Meilan Airport's shares are expected to start trading on the Hong Kong Stock Exchange on November 18, 2002, which is a condition precedent for the closing of Copenhagen Airports A/S' investment in Meilan Airport.
From 2003, the investment is expected to be accretive to CPH's earnings.