Noon on June 9th，Cathay Pacific Airways Announcement on the Hong Kong Stock Exchange，The company’s board of directors announced a proposal to implement a recapitalization plan，The total amount raised is about HK$39 billion。What deserves attention，This amount of financing is larger than Cathay Pacific’s current total market value。As of before suspension，Cathay Pacific’s total market capitalization is 346.HK$5.7 billion。At present, Swire Group has announced its commitment to subscribe for this fund raising。

According to Cathay Pacific’s announcement, the recapitalization proposals include:

(1) Issuance of preferred shares and warrants，That is, the proposed issuance by Cathay Pacific to Aviation2020 Limited: (a) preference shares，The total subscription 188bet sports betting app download amount is HK.5 billion；and (b) warrants to subscribe for shares，The total exercise price is approximately 19.HKD 500 million (subject to adjustment)；

(2) Rights issue，It is proposed that seven rights shares will be issued for every eleven existing shares held on the rights issue record date at the rights issue subscription price 4.68 Hong Kong dollars for rights issue 2,503,355,631 rights shares，The total amount of funds raised is approximately HK$11.7 billion；

(3) Bridging Loan，The assumed bridge loan facility provided by Aviation2020Limited to Cathay Pacific，The amount is HK$7.8 billion。Swire、Air China and Qatar Airways irrevocably commit to subscribe for all rights shares tentatively allotted to them under the rights issue at the subscription price，and each voted in favor of all resolutions to be proposed at the EGM to implement the recapitalization proposal。

Swire Pacific’s announcement on the Hong Kong Stock Exchange，Irrevocable commitment issued to Cathay Pacific on June 9, 2020，According to this commitment，Swire Pacific has irrevocably committed to subscribe for Cathay Pacific rights shares at the subscription price。The basis for the Cathay Pacific rights 188bet app download issue is 7 Cathay Pacific rights shares for every 11 existing Cathay Pacific shares held，Subscription price is 4.HKD 68。Swire Pacific has applied to United Exchange to resume trading of Swire Pacific shares and debt securities from 9:00 am on June 10, 2020。

According to Cathay Pacific announcement，Its second largest shareholder Air China and Qatar Airways will also subscribe for the additional shares。According to other media reports，The Hong Kong SAR government will provide HK$30 billion in loan support and equity investment to Cathay Pacific，Aviation2020Limited in the announcement or a company established by the Hong Kong government。

An official press release subsequently sent to reporters by Cathay Pacific，Confirmed this analysis。

Announcement name，Cathay Pacific announced a recapitalization plan today。The plan is divided into three parts，Aims to provide Cathay Pacific with sufficient capital to cope with the global aviation industry decline，And provide a stable financial platform，Let Cathay Pacific comprehensively review its business and conduct business transformation，To reflect the new trend of the global tourism market。

The recapitalization plan consists of three parts:

• Part A: Cathay Pacific, subject to necessary shareholder approval，Issuance of HK$19.5 billion preference shares and detached warrants to the Hong Kong Special Administrative Region Government

• Part B: Cathay Pacific, subject to necessary shareholder approval，Allotment of HK$11.7 billion rights shares to existing shareholders

• Part C: The Hong Kong SAR Government provides HK$7.8 billion bridging loan to Cathay Pacific，and can be extracted and used in real time。

According to this reorganization plan，The Hong Kong SAR government will subscribe for HK$19.5 billion in preference shares，Provide loan of HK$7.8 billion，Total HK$27.3 billion，Slightly lower than the market rumored HK$30 billion。

188bet online sports betting ：21 Finance，Author:Gao Jianghong, original title: "Cathay Pacific Airways announces major issues, 39 billion financing shocks the market》.