By Carrie Chen
HONG KONG (Jan 24) -- Qatar Airways, which agreed to acquire a 9.61% stake in Cathay Pacific Airways in early November, increased its holding in the Hong Kong-based airline to 9.94% through market purchases, according to a shareholding disclosure to the Hong Kong stock exchange on Tuesday.
Qatar Airways bought an additional 12.978 million shares at an average price of HK$13.65 apiece. The purchase was made on Nov. 13, 2017, according to the filing.
Shares of Cathay Pacific rose 1.9% to HK$12.88 as of 11:15 a.m. in Hong Kong on Wednesday, while the benchmark Hang Seng Index was down 0.5%.
- By Carrie Chen; firstname.lastname@example.org; +852 3960 5150
- Edited by V. Phani Kumar
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