The offering involves 4.70 billion Hong Kong dollars in bonds, convertible into 356.6 million shares of the carrier. According to a Tuesday regulatory filing, the company set the initial exchange price at 13.18 Hong Kong dollars per share, a 2.9% premium over the airline’s most recent closing price.

This financial maneuver follows a strategic divestment earlier this year. In March, Swire Pacific sold a portion of its airline stake to generate 230 million dollars in working capital. By opting for exchangeable bonds now, the firm provides a mechanism for liquidity while maintaining a connection to the airline's equity performance.