HK Stock Market Move | Cathay Pacific Airways (00293) opens more than 3%, plans to enter into a repurchase agreement with Qatar Airways, investing nearly HK$7 billion to repurchase approximately 643 million shares.

CATHAY PAC AIR (00293) opened more than 3% higher, rising 3.01% to HK$11.62 by the time of reporting, with a turnover of HK$211.949 million. In terms of news, CATHAY PAC AIR announced that on November 5, 2025, Qatar Airways signed a commitment contract with the company as the beneficiary. According to and subject to the conditions of the commitment contract, Qatar Airways has irrevocably committed to the company to sign a repurchase contract, relating to the repurchase by the company of 643 million shares owned by Qatar Airways, accounting for approximately 9.57% of the issued shares. The repurchase price is HK$10.8374 per share, at a discount of approximately 3.9% to the closing price of HK$11.28 per share on the last trading day on the Stock Exchange of Hong Kong. As of the date of this announcement, the company's public shareholding ratio accounts for approximately 28.14% of the issued shares, including the repurchased shares. After the completion of the share repurchase and assuming that there are no other changes in the company's equity, the company's public shareholding ratio will decrease to approximately 20.53% of the issued shares (excluding treasury shares if any), below the minimum percentage of 25% stipulated in Rule 8.08 of the Listing Rules. The company has applied to the Stock Exchange, which has granted a waiver of the public shareholding requirement, but details and reasons for the waiver of the public shareholding requirement must be disclosed in the form of an announcement. Subsequently, until the date of this announcement, the company issued a total of 278 million shares due to the exercise of conversion rights attached to bonds, increasing the company's public shareholding ratio from approximately 25.04% on the date of the public shareholding waiver to approximately 28.14% on the date of this announcement. The total cost of the share repurchase is HK$6.969 billion.