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01888 KB LAMINATES
RTNominal down5.640 -0.150 (-2.591%)
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06/11/2017 08:54

Kingboard Chem to sell stake in Cathay Pacific for HK$5.16bn

[ET Net News Agency, 6 November 2017] Kingboard Chemical (00148) said the company and
its non-wholly owned subsidiary Kingboard Laminates (01888) agreed to sell about 378
million shares in Cathay Pacific Airways (00293) to Qatar Airways Q.C.S.C. for HK$5,162
million.
The sale shares represent around 9.61% of the total issued share capital of Cathay
Pacific. Closing of the disposal is expected to take place on 6 November.
Upon completion, the Kingboard Chemical Group will cease to hold any Cathay Pacific
shares and expects to recognize a gain of about HK$800 million. It intends to apply the
net proceeds as general working capital and/ or for other investment opportunities, as
appropriate. (HL)

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