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Air China: Plans to Sell Approximately 1.61% Stake in Cathay Pacific for HK$1.32 Billion
Air China announced that its wholly-owned subsidiary, Easerich Investments Inc., intends to sell approximately 1.61% of its stake in Cathay Pacific Airways Limited (i.e., 108,080,000 shares) via block trading on the Hong Kong Stock Exchange through a placement agent. The transaction price has been set at HK$12.22 per share, with the total transaction value expected to be HK$1.321 billion.
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