HNA's Swissport cargo handling business to float this year
Chinese conglomerate HNA Group is planning to float its Swissport unit on the Swiss exchange later this year, the airport ground services business said Thursday. Swissport said the decision to list in its home country underlined its strong Swiss foundation, with the newly listed company seen being run independently in the future. HNA, the only shareholder in Swissport after buying it in 2015, would keep a long term shareholding in the company that handles more than 4.3m tonnes of cargo per year and provides services for 250m passengers. Reuters reported Wednesday that HNA, which also owns Swiss airline caterer Gategroup Holding, was considering the flotation to ease liquidity concerns. Sources said it was hoping to raise at least 2.7b Swiss francs from a Swissport IPO.<br/>
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HNA's Swissport cargo handling business to float this year
Chinese conglomerate HNA Group is planning to float its Swissport unit on the Swiss exchange later this year, the airport ground services business said Thursday. Swissport said the decision to list in its home country underlined its strong Swiss foundation, with the newly listed company seen being run independently in the future. HNA, the only shareholder in Swissport after buying it in 2015, would keep a long term shareholding in the company that handles more than 4.3m tonnes of cargo per year and provides services for 250m passengers. Reuters reported Wednesday that HNA, which also owns Swiss airline caterer Gategroup Holding, was considering the flotation to ease liquidity concerns. Sources said it was hoping to raise at least 2.7b Swiss francs from a Swissport IPO.<br/>
