February 13, 2018 / 1:32 AM / 4 months ago

HNA unit shares set to jump 15 percent after it sells HK sites for $2 billion

HONG KONG (Reuters) - Shares of Hong Kong International Construction Investment Management Group Co Ltd (0687.HK), a unit of HNA Group, were set to surge 15 percent on Tuesday after it agreed to sell two sites in the city to Henderson Land Development Co Ltd (0012.HK) for $2 billion.

A HNA Group logo is seen on the building of HNA Plaza in Beijing, China February 9, 2018. REUTERS/Jason Lee

The stock was set to open at HK$2.42, compared to a 1.3 percent rise for the benchmark Hang Seng Index .HSI.

Shares of Henderson Land were set to open up 1 percent at HK$49.55.

The HNA unit said it would sell the two Hong Kong sites to Henderson Land for HK$16 billion ($2 billion), a deal expected to be completed on Feb. 14.

Reporting by Donny Kwok; Editing by Anne Marie Roantree

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