Shares in HNA Holding Group, the Chinese conglomerate, plunged nearly 6.5 per cent on Monday after its Hong Kong-listed controlling shareholder pledged 56.11 per cent of its stake in the firm as security for a loan – a month after the group paid a jaw-dropping HK$8.84 billion for its first residential site in Hong Kong.
The loan amount or purpose was now revealed.
The move also comes in the wake of a massive policy shift by Beijing, to stem capital flight by tightening scrutiny on…
Source : South China Morning Post
Read more…HNA Holding’s controlling shareholder pledges 56.1pc stake in firm as security for bank loan















