HK Stock Market Move | Cathay Pacific Airways (00293) rose over 4% in early trading, planning to spend nearly 7 billion Hong Kong dollars to repurchase all shares held by Qatar Airways.

CATHAY PAC AIR (00293) rose over 4% in early trading, rose 4.17% as of press time, closing at HK$11.75, with a turnover of HK$54.479 million. In terms of news, CATHAY PAC AIR announced that it will sign a repurchase agreement with Qatar Airways to repurchase all the Cathay Pacific shares held by Qatar Airways, accounting for approximately 9.57% of the total number of issued shares of the company, at a price of HK$6.969 billion. It is reported that Qatar Airways invested in CATHAY PAC AIR at the end of 2017. He Yili, Chairman of Jiangxi Guotai Group, stated that this repurchase reflects the Group's firm confidence in future development and demonstrates a strong commitment to the development of Hong Kong as an international aviation hub, along with investments exceeding HK$100 billion in fleet, cabin and lounge products, digital leadership, and efforts to consolidate Hong Kong's position as a world-class aviation hub and contribute to the prosperity of the Greater Bay Area.