Cathay Pacific Revises Shareholder Undertakings as Buy-Back Reshapes Ownership Structure

Cathay Pacific Airways ( (HK:0293) ) has issued an update.

Cathay Pacific Airways has updated investors on changes to shareholder undertakings linked to its proposed off‑market share buy-back, following Air China’s agreement to dispose of 108,080,000 Cathay Pacific shares via a placing before an extraordinary general meeting. After this disposal, Air China and Cathay executed an amended irrevocable undertaking reflecting Air China’s reduced indirect holding of about 27.11% of issued shares, while Swire Pacific’s undertaking remains unchanged, bringing the total shares covered by irrevocable undertakings from Air China and Swire Pacific to roughly 75.24% of shares held by independent shareholders. Under the amended arrangement, Air China commits to vote all its covered shares in favour of the share buy-back and to refrain from disposing or encumbering them until the EGM or earlier agreed termination. Assuming no other capital changes, completion of both the disposal and the buy-back would see Swire Pacific’s stake rise from about 43.09% to 47.65%, above the 2% “creeper” threshold under Hong Kong’s Takeovers Code, while Air China’s stake would move from 27.11% post-disposal to 29.98%, just below the 30% mandatory offer trigger, prompting Swire Pacific to apply for a waiver from making a mandatory general offer and underscoring the transaction’s significance for Cathay Pacific’s ownership and control structure.

The most recent analyst rating on (HK:0293) stock is a Buy with a HK$15.30 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 Limited is a Hong Kong–incorporated international airline, listed on the Hong Kong Stock Exchange, providing passenger and cargo air transport services with a primary market focus on Hong Kong as its home hub and wider regional and global routes.

Average Trading Volume: 7,030,795

Technical Sentiment Signal: Buy

Current Market Cap: HK$84.91B

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