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

MT Newswires Live03-23 10:35

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.)

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