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China Eastern Airlines affiliate gains 44% in Shanghai IPO

Debut positive sign for logistics sector hungry for capital amid price war

Eastern Air Logistics has posted strong growth, utilizing the network and resources of China Eastern Airlines.    © AP
KENJI KAWASE, Nikkei Asia chief business news correspondent | China

HONG KONG -- Investors rallied around Eastern Air Logistics on Wednesday, sending shares of the corporate sibling of China Eastern Airlines climbing by the maximum 44% allowed on their first day of trading on the Shanghai Stock Exchange.

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