(Bloomberg) — Cathay Pacific Airways Ltd. announced a HK$39 billion ($5 billion) recapitalization plan that includes preference shares and a rights issue as it battles through unprecedented difficulty brought on by the coronavirus pandemic and protests in Hong Kong.The rights issue proposal is on the basis of seven rights shares for every 11 existing shares held and would raise about HK$11.7 billion, Cathay said in a statement to the Hong Kong stock exchange. The preference shares would raise HK$19.5 billion and warrants HK$1.95 billion, subject to adjustment.Aviation 2020 Ltd., a Hong Kong government-connected entity, is extending a HK$7.8 billion bridge …read more
Source:: Yahoo Finance
