NWS Holding Ltd, the Hong Kong-based infrastructure and service conglomerate, will purchase 20.38 percent of the total issued H shares in Beijing Capital International Airport.

The acquisition price is approximately HK$2.35 billion ($303.92 million) and NWS will pay in cash, the company announced on Tuesday.

It is the first time that the company has invested in an airport.

Opportunities arising from the airport's passenger numbers is a key reason for the acquisition.

"It is expected that there will be potential growth in the non-aeronautical revenues of Beijing Capital International Airport generated from retail concessions, advertising and rentals," NWS Holding said in its statement.

Beijing Capital International Airport, the world's second-busiest airport, has more than 80 million passengers annually.

The main shareholder of NWS Holding is New World Development Co Ltd, whose president is Cheng Yu-Tung, one of the 10 top Chinese tycoons.