Market Chatter: New World Development's Cheng Family Weighs $4 Billion Share Sale

MT Newswires Live

Mar 23

New World Development (HKG:0017)'s controlling shareholder, the Cheng family, is considering raising about $4 billion through a share placement to support the cash-strapped Hong Kong developer, Bloomberg News reported Friday.

Under one scenario, the Chengs, who hold roughly a 45% stake, may need to inject about $1.8 billion as part of the fundraising, according to the report.

The discussions remain preliminary, and details, including the size of the deal, could still change.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"00017","symbol_name":"新世界发展","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2621258487","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2621258487","pubTimestamp":1774233302,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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