Spring Airlines, the first and largest budget carrier in China, has suspend trading of its mainland-listed A shares

The Shanghai-based carrier said in a statement it is planning a non-public share placement and would halt its stock trading from Aug. 15.

This is due to "significant uncertainties" and to protect shareholders' interests and ensure transparency of information.

Spring Airlines added that it will resume trading and disclose further information within 10 trading days.

In June, it disclosed that it had failed to make a non-public issue of up to 76.8 million new shares, due to the fall in its share price.

Spring's share price fell from a high of 60.74 in January to 47.89 yuan on Monday noon. However, security analyst predicts the airline will see a 43% share increase in the second half of this year.