Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
<Research>CLSA: SWIRE PACIFIC A Sells CX Shrs at 9.6% Discount, Likely Shareholding Adjustment
Recommend 2 Positive 2 Negative 4 |
||||
|
||||
|
SWIRE PACIFIC A (00019.HK) announced before market opening today (13th) that it would place 153 million shares of CATHAY PAC AIR (00293.HK) at $11.74 per share, representing a 9.6% discount to yesterday's closing price, CLSA published a research report saying. After the sale is completed, SWIRE PACIFIC A will hold 2.797 billion shares of CATHAY PAC AIR, accounting for approx. 45.12% of the issued share capital. SWIRE PACIFIC A will receive net proceeds of $1.789 billion from this placement and record a disposal gain of $365 million. The placement is expected to be completed no later than 17 March. The broker believed that the placement price is equivalent to 1.2x the projected PB ratio for the calendar year 2027 or 6.7x the projected PPE ratio for the calendar year 2027. Although the market may interpret this negatively, the sale is likely aimed at adjusting SWIRE PACIFIC A's stake in CATHAY PAC AIR. AASTOCKS Financial News Website: www.aastocks.com |
||||
Copied to Clipboard
 |
||||
