【293】Swire Pacific Offers Nearly 10% Discount on Placement of Cathay Pacific Airways Shares - Demonstrates Confidence and Firm Commitment to Cathay Pacific

SocialAnxietyStaker · 2026-03-12T23:46:08+00:00

Swire Pacific A and Swire Pacific B announced the placement of 150 million shares of Cathay Pacific at a 9.6% discount, with proceeds of approximately HK$1.79 billion to be used for operational funding. Swire stated its confidence in Cathay Pacific, with its stake reaching 45.1% after the placement. The board believes this move is in the interests of the company and shareholders, as it will enhance financial flexibility.

SocialAnxietyStaker

2026-03-12 23:46:08

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Swire A (00019), Swire B (00087) announced the placement of Cathay Pacific Airways (00293) 150 million shares, representing approximately 2.5% of the total issued Cathay Pacific shares (excluding treasury shares). The placement price is HKD 11.74 per share, a 9.6% discount to Thursday’s closing price of HKD 12.99. The net proceeds from the placement are approximately HKD 1.79 billion, which will be used for general operational purposes.

Swire stated that the company remains confident and committed to Cathay Pacific Airways. Swire expects to record a gain of about HKD 360 million from the placement. The company indicated that this placement will restore its stake in Cathay Pacific to pre-Qatar Airways Group Q.C.S.C. share repurchase levels. After the completion of the placement, the company will hold approximately 45.1% of the total issued Cathay Pacific shares (excluding treasury shares).

The board believes that the terms and conditions of the placement agreement are fair and reasonable and in the overall interest of the company and its shareholders. The company considers that raising funds through the placement will benefit the company by increasing its working capital, further strengthening its balance sheet, and enhancing its financial flexibility.

Source: Swire Announcement

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