Cathay to buy back warrants from Hong Kong SAR Government

Cathay Pacific Airways has entered into an agreement to buy back all warrants it had issued to the Hong Kong SAR (HKSAR) Government. Under the agreement, Cathay will buy back the warrants for a total consideration of at least HK$1.5bn ($192.3 million). Cathay clarified that the exact amount is subject to share price movement between signing and completion of the agreement. Completion is expected to occur ten business days after the signing, after which the warrants will be cancelled. The company added: “The buyback will eliminate the possibility of dilution of Cathay shares for our shareholders.” “Cathay’s recapitalisation in 2020