Shares in HNA Holding Group fell 6.35 per cent to close at 29.5 HK cents. Based on that price, the 56.1 per cent stake being pledged by its parent is worth HK$1.88 billion. Photo: AFP

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

Analysts suggest surprise move is desperate attempt to raise funds, possibly to pay for its recent HK$8.84 billion Kai Tak residential site acquisition

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Shares in HNA Holding Group fell 6.35 per cent to close at 29.5 HK cents. Based on that price, the 56.1 per cent stake being pledged by its parent is worth HK$1.88 billion. Photo: AFP
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