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HONG KONG/CHICAGO/BENGALURU, Qatar Airways has agreed to sell its entire 9.7% stake in Cathay Pacific Airways Ltd for about US$897 million (HK$6.97 billion or RM3.75 billion), ending its eight-year investment in Hong Kong’s flagship carrier. Cathay Pacific announced on Wednesday that Qatar Airways had proposed the sale, and the airline would repurchase the shares at HK$10.8374 per share — around a 4% discount to the stock’s last closing price. The buyback will be financed through Cathay’s internal funds and existing credit facilities. Qatar Airways, which acquired the stake in November 2017, will earn a roughly 35% premium over its initial investment. The deal will reduce Cathay’s public float, potentially easing market selling pressure. “It’s likely more about Qatar Airways’ cash flow management,” said Kenny Ng Lai-yin, a strategist at China Everbright Securities International, adding that the move could support Cathay’s share price. Following the announcement, Cathay’s shares rose 4.8% on Thursday, while Air China gained 4% and Swire Pacific advanced over 1%. Cathay, one of Asia’s largest cargo carriers based at the world’s busiest air freight hub, has benefited from strong e-commerce demand out of China. The buyback will increase Swire Pacific’s stake in Cathay from 43.12% to 47.69% and Air China’s from 28.74% to 31.78%, pending approval. Qatar Airways CEO Badr Mohammed Al-Meer said the divestment was part of the airline’s “disciplined portfolio strategy,” enabling it to optimise investments and position for long-term growth after a period of strong financial performance. Cathay chairman Patrick Healy said the company’s decision to buy back the stake reflected its confidence in future growth, citing a HK$100 billion investment plan over seven years covering new aircraft, cabin upgrades and lounge enhancements. Despite significant losses during the pandemic, Cathay’s recovery is gathering pace, with passenger numbers for Cathay and its low-cost unit HK Express up 20% year-on-year in September. Qatar Airways’ exit does not signal an end to collaboration between the two carriers — both reaffirmed their partnership under the oneworld Alliance.

Nissan Motor Co has agreed to sell its global headquarters in Yokohama for ¥97 billion (US$630 million or RM2.64 billion) to a consortium led by Hong Kong-listed auto parts manufacturer Minth Group, as part of efforts to strengthen its finances amid ongoing struggles. The acquisition is spearheaded by a special-purpose company managed by KJR Management, the Japanese real estate arm of US private equity firm KKR & Co, according to people familiar with the deal. The agreement forms part of a 20-year sale-and-leaseback arrangement, allowing Nissan to continue operating from its current premises. Under the deal, Minth Group serves as the primary investor, while Nissan expects to record a net gain of approximately ¥74 billion. The company said the proceeds will be used to fund essential investments and upgrade internal systems, without affecting operations or staff at its Yokohama headquarters. “This move reflects our disciplined approach to capital efficiency, unlocking value from non-core assets to support ongoing transformation during challenging times,” Nissan said in a statement. The sale comes as Nissan undertakes an extensive cost-cutting plan involving job reductions and factory closures to cope with its weakest financial position in over 20 years. The automaker recently projected an operating loss of ¥275 billion for the fiscal year ending March 2026 — its first official guidance after withholding forecasts previously. Shares of Nissan rose as much as 3.9% in early Tokyo trading on Thursday, though the stock remains down about 27% year-to-date. Founded in Yokohama, Nissan moved its headquarters from Tokyo’s upscale Ginza district to its current waterfront location in 2009. The company’s current restructuring plans, led by chief executive Ivan Espinosa, include cutting 20,000 jobs and consolidating its global manufacturing footprint from 17 plants to 10, as it grapples with weak sales in the US and China, rising debt, and years of leadership instability.

HONG KONG, Chinese electric vehicle (EV) manufacturer Seres Group Co has successfully raised HK$14.3 billion (US$1.8 billion or RM7.7 billion) from its Hong Kong initial public offering (IPO), after pricing the shares at the upper end of its indicated range and exercising an overallotment option to expand the offering. In a statement issued on Sunday, the Chongqing-based automaker, which partners with Huawei Technologies Co in the EV sector, said it sold approximately 108.6 million shares at HK$131.50 each, including an additional 8.4 million shares issued under the option, increasing the deal size by about 8.4%. The IPO price represents a 22% discount to Seres’ closing price of 155.19 yuan on the Shanghai Stock Exchange last Friday, where the company’s shares are already traded. Seres’ Hong Kong shares are scheduled to begin trading on Wednesday, marking one of the most notable listings in the city this year. This IPO is also Hong Kong’s eighth listing in 2025 to raise more than US$1 billion, underscoring a revival of large-cap offerings amid improving investor sentiment. The city’s total IPO proceeds have now exceeded US$26 billion, surpassing earlier forecasts by Bloomberg Intelligence for the full year. Founded in 1986, Seres originally manufactured springs and shock absorbers before diversifying into motorcycles and, later, electric vehicles. The company’s collaboration with Huawei — which involves co-developing smart EVs and integrating Huawei’s intelligent vehicle solutions — has become a major growth catalyst. Analysts expect Seres’ net profit to surge by 72% this year to a record 10.2 billion yuan, supported by strong sales of its Aito-branded EVs and continued demand momentum in China’s high-end EV segment. Industry observers say the Hong Kong listing provides Seres with greater financial flexibility to expand production capacity, invest in next-generation EV technologies, and strengthen its global presence. China International Capital Corp (CICC) and China Galaxy Securities Co acted as joint sponsors and bookrunners for the offering. Seres’ successful listing adds to the growing list of Chinese EV makers seeking dual listings to attract international investors and strengthen access to offshore capital markets amid intensifying competition in China’s fast-growing EV industry.