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Hong Kong Airlines' application for city's first dual currency IPO lapses
[HONG KONG] Regional carrier Hong Kong Airlines International Holdings Ltd's application for the city's first-ever dual currency initial public offering has lapsed, after the company failed to secure a hearing with the stock exchange's listing committee.
The company filed in early September for the IPO, aiming to raise about US$600 million to buy new aircraft. But after about six months since the filing, the application became inactive, according to information on the Hong Kong stock exchange's website.
Hong Kong Airlines didn't immediately respond to a Reuters request for comment.
The stock exchange established a framework for shares to trade in yuan in addition to Hong Kong dollars in 2011.