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Shares of New World Development rose 2.1% on Monday after the Shanghai Stock Exchange approved the spinoff and listing of its REIT, for an expected offering size of 3.82 billion yuan ($570.36 million).
New World Development Co Ltd said on Thursday its proposed spin-off of Shanghai New World Huaihai Property Development has been accepted by the Shanghai Stock Exchange, which confirmed the company may proceed with the proposed spin-off. The company expects to reduce its indirect interest in the project company to 20% f
Hong Kong's New World Development said on Monday the Shanghai Stock Exchange had approved the spinoff and listing of its REIT for an expected offering size of 3.82 billion yuan ($570.36 million). The company expects to subscribe for 20% of the total units at listing, while external investors would take the remaining 80
* Shares of New World Development climb 2.2% to HK$5.945, their highest point since September 11 * Property developer says its real estate investment trust manager, GF Fund Management, submitted application materials to China Securities Regulatory Commission (CSRC) and the Shanghai Stock Exchange (SSE) to register and