Swire Pacific A's stock surged 6.22% during intraday trading on Friday, reflecting strong investor interest in the company.
The sharp rise follows the company's announcement that it plans to sell 153.1 million shares of Cathay Pacific Airways, representing a 2.52% stake, for a total of HK$1.79 billion. Swire Pacific expects to record a gain of approximately HK$365 million from this placement, which aims to return the company to its historical shareholding level in the airline. The sale will reduce Swire's ownership in Cathay Pacific to 45.12%.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments