Cathay Pacific to buy back remaining 50% of HK government’s preference shares

HONG KONG : Hong Kong’s Cathay Pacific Airways will buy help the leisure 50 per cent of option shares that were issued to the Hong Kong SAR Govt on July 31, the firm stated on Friday.

Cathay stated this pays any remaining unpaid option half dividends as a lot as July 31, bringing total option half dividends paid to the Hong Kong SAR Govt over its retaining period to HK$2.44 billion.

The option shares were issued to the Hong Kong govt as phase of the neighborhood’s recapitalisation financing in 2020. The stake being sold help by Cathay Pacific is valued at HK$9.75 billion ($1.25 billion).

($1 = 7.8101 Hong Kong dollars)