Deals
HNA Units Lose $10 Billion in Market Value After Resumptions
- Hainan HNA Infrastructure falls more than 45% in 7 days
- One unit remains halted, pending restructuring progress
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Six HNA Group Co. units have lost about $10 billion in market value since their shares resumed trading in the past few weeks, underscoring persisting concerns about the conglomerate, which is saddled with one of the biggest piles of debt in corporate China.
Total losses topped the milestone during early trading in Shanghai and Shenzhen on Tuesday, though they pared back declines to about $9.8 billion as of the midday break. All the units have underperformed their benchmark indexes since the share suspensions, with Hainan HNA Infrastructure Investment Group Co. dropping the most by plunging more than 45 percent in the past seven trading days.