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CATHAY PAC AIR (00293.HK) to Buyback All Warrants From Govt for Max. $1.88B
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CATHAY PAC AIR (00293.HK) announced that it will use no more than $1.88 billion to buy back warrants from the Hong Kong government. CATHAY stated that the total consideration for the repurchase of all the warrants under the repurchase agreement will range from $1.531 billion to $1.88 billion. The company intends to fund its payment of the consideration for the warrants under the repurchase from its existing sources of finance. The repurchase will eliminate the possibility of dilution which would arise from any exercise of the warrants. The unlisted warrants were issued by CATHAY in August 2020, when the Government subscribed for 417 million warrants at $4.68 per share, or an aggregate exercise price of $1.95 billion. AAStocks Financial News |
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