Air China is offering to sell its 12.83 percent stake in mid-sized brokerage West China Securities for 416 million yuan, according to China Beijing Equity Exchange.

The exchange yesterday said the shares will be open for public bidding on the exchange until August 3. Air China may adjust the price if it fails to attract bidders. The sale is part of the Chinese flag carrier's drive to dispose of non-core assets. Air China, the second-largest shareholder in West China Securities, originally bought the stake for 130 million yuan.

(For more biz stories, please visit Industry Updates)