Oasis Hong Kong Airlines, the world's first low-cost long-haul carrier in 25 years, would enlist Value Partners, a Hong Kong-based fund, as a strategic shareholder before going public in 2009, sources said.
Oasis operates daily direct flights to London and six flights a week to Vancouver. It achieved breakeven operating cash flow in March after its first six months, company chairman Raymond Lee Cho-min said in August.
Mr Lee said then Oasis would invite one Hong Kong strategic shareholder by the end of this month.
Value Partners chief executive Franco Ngan offered no comment on the transaction, which is expected to be announced today.
A Hong Kong-based investment manager, Value Partners had US$5.7 billion in assets under management at the end of June, according to the company's website.
Mr Lee controls 65 per cent of Oasis while VTech Holdings chairman Allan Wong Chi-yun owns 15 per cent.