HONG KONG (MarketWatch) -- Air China Ltd.'s shares in Hong Kong were up as much as 13% in resumed mid-morning trade Friday after the Chinese carrier announced fundraising plans involving the private placement of local-currency shares in Shanghai and another set in Hong Kong. The airline said in a filing to the Hong Kong Stock Exchange Friday it plans to raise about 5.6 billion yuan ($820 million) through the Shanghai share placement and about 1.04 billion Hong Kong dollars ($134 million) through the Hong Kong share placement. The Shanghai placement will be taken up by as many as 10 investors, including parent group China National Aviation Holding Co., while the Hong Kong placement will go entirely to CNACG. Friday's action followed a three-session suspension in trade of the airline's shares.

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