China Southern Airlines Co., the country's largest carrier, said it planned to raise no more than 10.75 billion yuan (1.57 billion U.S. dollars) through private issue of Shanghai and Hong Kong-listed shares.

The sale of shares was to improve the company's capacities to cope with possible risks, according to company's statement filed to the Shanghai Stock Exchange Monday.

No more than 10 billion yuan of A shares would be raised through the private issue, according to the company.

The A shares would be issued at not less than 5.66 yuan per share and the H shares at not less than 2.73 HK dollars.