BA takes off from Qantas stake

Sale prompts "flying kangaroo" buying frenzy.

British Airways has dviested its 18.25% stake in Australia’s flagship carrier, Qantas Airways and inspired a frenzied buying rush that involved over 130 domestic and international investors when shares in the flying kangaroo resumed trading on Thursday. Following the divestment announcement from Europe’s second largest airline, Qantas requested an immediate halt in share trading, only to inspire a mad scramble that was three times oversubscribed, raising over A$1.1 million around $757 million for BA.

BA’s stake was offered to both Australian and international investors at A$3.28 $2.26 per share, five cents below the price before Tuesday’s suspension of trading. In its first BA-less day for...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222