Slaughter and May is advising Cathay Pacific Airways Limited on its buyback of warrants from the Hong Kong SAR Government

Slaughter and May are advising Cathay Pacific Airways Limited (“Cathay”) on its buyback of all of the warrants issued to the Hong Kong SAR Government as part of Cathay’s HK$39 billion recapitalisation during the COVID-19 pandemic, including on its successful application to the Securities and Futures Commission of Hong Kong for a waiver from compliance with the provisions of the Code on Share Buy-backs. 

The total consideration will be at least HK$1.53 billion and at most HK$1.88 billion. The exact amount will depend on the share prices during a certain period between signing and completion. 

Cathay is listed on the Hong Kong Stock Exchange (stock code: 293) and one of its principal business activities is the operation of scheduled airline services.