New World Development wins nod for Shanghai REIT spin-off listing
New World Development received Shanghai Stock Exchange acceptance for a proposed spin-off listing of NWD C-REIT, which comprises Shanghai K11 Art Mall and Shanghai K11 ATELIER NWT. The expected offering size is about RMB 3.82 billion, with the group subscribing to at least 20% of the REIT. Estimated net proceeds to the