Overview
- Cathay will repurchase 643.07 million shares held by Qatar Airways, representing 9.57% of its issued stock.
- The price is HK$10.8374 per share for a total consideration of HK$6.97 billion, or about US$897 million.
- The offer is 3.9% below Wednesday’s closing price and roughly 20.6% beneath Qatar’s 2017 entry price of HK$13.65.
- Cathay says it will fund the purchase using internal resources and existing credit lines while retaining sufficient cash for operations.
- Cathay said Qatar approached it to sell the entire holding, and the Gulf carrier has not commented publicly.