January 19, 2018 / 3:58 AM / 6 months ago

Chinese conglomerate HNA Group's fourth unit halt stock trading

HONG KONG, Jan 19 (Reuters) - HNA-Caissa Travel Group Co Ltd , a unit of indebted Chinese conglomerate HNA Group, on Friday suspended trading in its shares pending an announcement, becoming the fourth group unit to do so since last week.

HNA-Caissa, which is engaged in tourism service business, said in a filing to the Shenzhen stock exchange that the stock would remain suspended pending an announcement that could have an impact on its share price.

The company did not give details.

The trading halt by the HNA unit comes amid financial, legal and regulatory problems at the group after a two-year, $50 billion investment spree, which included big stakes in Hilton Hotels Worldwide and Deutsche Bank.

HNA’s flagship Hainan Airlines Holding Co, Bohai Capital Holding Co, the parent of aircraft leasing firm Avolon, and Tianjin Tianhai Investment, which controls California-based Ingram Micro Electronics, each have suspended trading since beginning of last week.

The U.S. government will not approve any investment by HNA until the group, which has been scrutinized over its ownership structure, provides adequate information on who its shareholders are, a source told Reuters on Friday. (Reporting by Sumeet Chatterjee; Editing by Gopakumar Warrier)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below