Property News · December 5, 2016

HNA Holding’s controlling shareholder pledges 56.1pc stake in firm as security for bank loan


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
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