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SWIRE PACIFIC A Plans to Offer 9%+ Discount in Placement of 2.52% Stake in CATHAY PAC AIR to Raise Net Proceeds of $1.79B
Recommend 5 Positive 9 Negative 25 |
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SWIRE PACIFIC A (00019.HK) announced a plan to place 2.52% of CATHAY PAC AIR (00293.HK) shares through Placing Agents, totaling 153 million shares, at a Placing Price of HKD11.74 per share, representing a discount of approximately 9.6% compared to yesterday's (12th) closing price of HKD12.99. The Company expected the net proceeds from the Placing to be approximately HKD1.789 billion, which will be used for general working capital purposes. The Group was expected to record a gain of approximately HKD365 million from the Placing. Upon completion of the Placing, the Company’s shareholding in CATHAY PAC AIR will decrease from 47.64% to approximately 45.12%. AASTOCKS Financial News Website: www.aastocks.com |
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