Swire Pacific hits nearly 7-year high on plan to sell Cathay Pacific shares

Swire Pacific

13/03/2026 01:56

** Swire Pacific 0019.HK rises 6.7% to HK$88.3, highest since April 2019; set for fourth consecutive session of gains

** Stock on course for biggest one-day pct rise since December 2023; top pct gainer on Hang Seng Composite Index on conglomerates .HSCIC, which is down 0.5%

** Hong Kong-listed conglomerate to sell 153.1 mln shares, or 2.5% stake, in Cathay Pacific Airways 0293.HK

** At 9.6% discount to last close, share placement to raise estimated HK$1.79 bln ($228.7 mln) for general working capital needs

** Swire Pacific, interested in ~47.64% of HK flagship carrier's total shares, expects ~HK$365 mln gains from placement

** Cathay Pacific's stock falls 4.7% to HK$12.38

** YTD, Swire Pacific stock up 37%, Cathay Pacific shares up 0.9%

($1 = HK$7.8268)

 (Reporting by Donny Kwok)

 ((donny.kwok@thomsonreuters.com))