Claim 70% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Air China ( (HK:0753) ) has provided an announcement.
Air China has agreed to sell 108.08 million shares in Cathay Pacific Airways, or about 1.61% of the Hong Kong carrier’s issued share capital, via a placing handled by Morgan Stanley at HK$12.22 per share. The disposal, conducted through its wholly owned subsidiary Easerich Investments, is expected to generate an estimated pre-tax profit of roughly RMB182 million and will reduce Air China’s stake in Cathay Pacific from 28.72% to about 27.11%, while a 180‑day lock‑up will restrict further sales without the placing agent’s consent. The company emphasized that the transaction is not classified as a notifiable or connected transaction under Hong Kong listing rules, should not materially affect its financial position or operating results, and that it will remain an important strategic shareholder in Cathay Pacific with its support and confidence in the airline’s prospects unchanged.
The most recent analyst rating on (HK:0753) stock is a Buy with a HK$8.20 price target. To see the full list of analyst forecasts on Air China stock, see the HK:0753 Stock Forecast page.
More about Air China
Air China Limited is a major Chinese airline group incorporated in the People’s Republic of China, operating through various subsidiaries in passenger and cargo air transport and related aviation services. Listed in Hong Kong under stock code 00753, the group also holds strategic equity interests in other carriers, including Cathay Pacific Airways, as part of its broader regional aviation and partnership strategy.
Average Trading Volume: 24,012,848
Technical Sentiment Signal: Buy
Current Market Cap: HK$166.9B
For an in-depth examination of 0753 stock, go to TipRanks’ Overview page.