BUZZ-Hainan Meilan Airport jumps on joint venture deal with Changi Airports

Reuters

2024-10-21

** Shares of Hainan Meilan International Airport Co Ltd

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 slips 0.5% and Hang Seng Index eases 0.6%

** Stock of Hainan Meilan International Airport up 14.1% YTD

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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