Hainan Airlines Group
HNA Group, the parent of China's fourth-largest airline, Hainan Airlines, is the fourth-largest airline group in China and currently owns 12 airlines, 11 airports, 51 hotels, five shipping companies, 13 finance firms and two business groups.
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Jiaxin cuts Hainan Airlines holdings by 2.25pct, Guotai Junan maintains "overweight" rating
Hainan Jiaxin Investment Management Co, Hainan Airlines' fourth largest shareholder which is owned by employees of HNA Group, last week cut its stake in the carrier by 2.25 percent to 1.61 percent.
Guotai Junan Securities maintained its "overweight" rating on the company.
According to the Guangzhou Daily, Jiaxin made around 180 percent profit, selling the stake at around RMB5.63 a share after buying them at around RMB2 a share two years ago when the airline issued new shares, reported today.
Analysts said that the sale may signal Grand China Air's listing in the near future, as HNA employees may have wanted to sell their shares in Hainan Airlines in order to subscribe for Grand China Air's shares.
Grand China Air seeks to be listed in Hong Kong but the plan has been put off several times.
