Swire Pacific To Place Certain Cathay Pacific Shares

Reuters03-13

March 13 (Reuters) - Swire Pacific Ltd <0019.HK>::
*PLACING OF CERTAIN CATHAY PACIFIC SHARES HELD BY COMPANY
*PLACING OF CERTAIN CATHAY PACIFIC SHARES HELD BY COMPANY
*TO SELL 153.1 MILLION CATHAY PACIFIC SHARES
*PLACING PRICE OF HK$11.74 PER CATHAY PACIFIC SHARE
*NET PROCEEDS TO BE RECEIVED BY CO FROM PLACING IS EXPECTED TO BE HK$1,789 MILLION
*INTENDS TO USE NET PROCEEDS FROM PLACING FOR GENERAL WORKING CAPITAL PURPOSES
*EXPECTED TO RECORD A GAIN OF HK$365 MILLION FROM PLACING
*PLACING RETURNS CO TO ITS HISTORICAL SHAREHOLDING IN CATHAY PACIFIC AIRWAYS
*UPON COMPLETION, CO WILL BE INTERESTED IN APPROXIMATELY 45.12% OF TOTAL ISSUED CATHAY PACIFIC SHARES
*SALE SHARES REPRESENT 2.52% OF TOTAL ISSUED CATHAY PACIFIC SHARES
*Further company coverage: 0019.HK
* ((Reuters.Briefs@thomsonreuters.com;))

((Reuters Investor Briefs; email: reutersinvestor.briefs@thomsonreuters.com))
Source Date/Time = 13-MAR-202600:21:00.213 GMT

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