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NWD Rockets ~11% to 1-Yr+ High on Heavy Trading; Rosewood Hotels Denies Sale Rumors
Recommend 9 Positive 8 Negative 15 |
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After opening slightly lower by 0.1% this morning (17th), NEW WORLD DEV (00017.HK) managed a rebound and once climbed by as much as 15.4% to an over one-year high of HKD9.5. It last traded at HKD9.12, up 10.81%, with a volume of 43.4327 million shares (more than 2.8 times higher than the previous day's volume), involving HKD393 million. Recent rumors have it that Marriott International is planning a strategic acquisition of Rosewood Hotel Group, a subsidiary of NEW WORLD DEV's parent company Chow Tai Fook Enterprises. While Marriott International refused to comment on rumors or speculation regarding acquisitions or other transactions, Rosewood Hotels responded by stating that Rosewood Hotel Group and its brands were not for sale, and all hotels were operating as usual. AAStocks Financial News |
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