Lyon: Cathay Pacific (00293.HK) repurchasing Qatar Airways' stake is negative news.

According to the Wisdom Financial APP, the report released by Credit Suisse stated that Cathay Pacific Airways (00293.HK) has been given a "hold" rating. Cathay Pacific announced that, based on a commitment agreement, it will repurchase its entire 9.57% stake (totaling 643,076,181 shares) from Qatar Airways at a repurchase price of HK$10.8374 per share. The repurchase price represents a 3% discount to the five-day volume-weighted average price, with a total cost of approximately HK$6.97 billion. After the transaction is completed, Cathay Pacific's public shareholding will decrease to around 20.53%. The announcement stated that the repurchased shares will be held as treasury stock.