Hainan Meilan Airport jumps on joint venture deal with Changi Airports

Hainan Meilan International Airport Co

21/10/2024 05:23

** Shares of Hainan Meilan International Airport Co Ltd
 0357.HK  jump 12.5% to HK$8.90, their highest since Oct. 8, and
on track for the second straight session of gains
    ** Company said it had agreed to establish a 51%-owned joint
venture (JV) with Changi Airports China Pte Ltd in China's
Hainan to operate and manage certain specified non-aeronautical
businesses, including retail, catering, leisure, advertising and
guest services, at Haikou Meilan International Airport 
    ** Says the JV will be 49% owned by Changi Airports China -
an indirect unit of Changi Airport Group (Singapore) Pte. Ltd
owned by Singapore's Ministry of Finance  
    ** Hang Seng Commerce & Industry Index  .HSNC  slips 0.5%
and Hang Seng Index  .HSI  eases 0.6%
    ** Stock of Hainan Meilan International Airport up 14.1% YTD
 

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))