Debt-laden mainland conglomerate HNA Group has pledged 40.98 per cent of its stake in its Hong Kong-listed Hong Kong International Construction Investment Management Group (HKICIM) to PAG Holdings as security for a loan, according to the company’s disclosure to the Hong Kong stock exchange on Wednesday.
The move comes amid fundraising efforts by the group to pay down debt, including the sale of two plots of land in Hong Kong to Henderson Land Development last week.
The company did…
Source : South China Morning Post
Read more…Debt-stricken HNA Group pledges 41pc stake in Hong Kong-listed unit as collateral for loan
