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<Research>UBS Anticipates CATHAY PAC AIR Shr Placement to Lift SWIRE PACIFIC A Mkt Cap by 0.7%
Recommend 6 Positive 11 Negative 10 |
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SWIRE PACIFIC A (00019.HK) announced that it would sell its 2.52% stake in CATHAY PAC AIR (00293.HK) through a placement at HKD11.74 per share, generating proceeds of HKD1.789 billion, according to a UBS report. The decision to conduct this placement came after CATHAY PAC AIR's repurchase of the 9.6% stake previously held by Qatar Airways, bringing its shareholding back closer to historical levels, SWIRE PACIFIC A said. UBS estimated that the sale would increase SWIRE PACIFIC A's market capitalization by around 0.7%, and the company's consolidated net debt ratio may improve from 20.6% at the end of 2025 to 20%. The broker believes this sale is similar to the situation last month when another strategic shareholder, AIR CHINA (00753.HK), sold its shares in CATHAY PAC AIR, and SWIRE PACIFIC A remains confident in its aviation business. AAStocks Financial News |
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