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China debt crunch

HNA Tech investors cheer as $7bn sale of Ingram Micro advances

Company director's insistence on better deal seen as positive

HNA Group was once among China's most acquisitive conglomerates, buying up such assets as Ingram Micro, the Radisson hotel chain and aviation services company Swissport Group.   © Reuters

HONG KONG -- HNA Technology's share price went limit-up Monday, following reaffirmation of the sale of its U.S.-based technology-products distributor, Ingram Micro.

The yuan-denominated A-shares of HNA Tech, which trade on the Shanghai Stock Exchange, jumped 10% to 2.92 yuan shortly after the open and remained there until the end of the trading day. The company's U.S.-dollar denominated B-shares, which trade freely among foreign investors, also rose 10% to close at $0.265.

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