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Cathay Pacific Airways ( (HK:0293) ) just unveiled an announcement.
Cathay Pacific Airways plans to implement a capital reduction of HK$6.97 billion by reducing the credit standing of its share capital account and transferring the amount to a capital reduction reserve. This reserve will be treated as realised profit under Hong Kong’s Companies Ordinance, subject to shareholder approval at the upcoming AGM and satisfaction of statutory conditions including solvency confirmation and required filings.
The move follows the completion and cancellation of treasury shares from a significant share buy-back that had reduced the company’s distributable reserves by the same amount. By recreating distributable reserves, the proposed capital reduction is expected to restore financial flexibility for future corporate actions and potential dividend decisions, which the board considers fair, reasonable and in the interests of shareholders overall.
The most recent analyst rating on (HK:0293) stock is a Buy with a HK$14.90 price target. To see the full list of analyst forecasts on Cathay Pacific Airways stock, see the HK:0293 Stock Forecast page.
More about Cathay Pacific Airways
Cathay Pacific Airways is a Hong Kong-based international airline that provides passenger and cargo air transportation services. Listed on the Hong Kong Stock Exchange, it focuses on global routes connecting Asia with major markets worldwide and operates within a highly competitive commercial aviation industry.
Average Trading Volume: 14,785,713
Technical Sentiment Signal: Buy
Current Market Cap: HK$69.69B
See more data about 0293 stock on TipRanks’ Stock Analysis page.