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: AFPShares 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
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
Property /  Hong Kong & China

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

Sandy LiJennifer Li
Sandy Li and Jennifer Li

Updated: 2:54pm, 20 Jul, 2018

Why you can trust SCMP
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: AFPShares 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
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
READ FULL ARTICLE