Hong Kong's New World Development shares set to jump 16% after CEO resigns

Reuters09-27

HONG KONG, Sept 27 (Reuters) - Shares of Hong Kong's New World Development are set to open 16% higher on Friday after the resignation of Adrian Cheng, the third-generation scion of the firm's founding family, who has been replaced by the company's chief operating officer.

The shares were suspended from trading on Thursday, pending the release of the management changes.

The stock was set to open at HK$9.5.

(Reporting by Clare Jim; Editing by Anne Marie Roantree and Jacqueline Wong)

((clare.jim@thomsonreuters.com;))

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