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NWD Considers Raising USD4B Through Shr Placement or Rights Issue to Cheng Family: Wire
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After negotiations with investors, including Blackstone Group (BX.US), the Cheng family currently believes that the real estate market will face a quick rebound, which will reduce the pressure to reach a deal that could lead to losing its control over NEW WORLD DEV (00017.HK), Bloomberg reported, citing sources. It is understood that one of the preferred options for the Cheng family is for NEW WORLD DEV to sell shares worth around USD4 billion (nearly HKD31.3 billion) to specific investors like the Cheng family, or to sell them proportionally to all shareholders, though this means that the Cheng family, which holds about 45% of the shares, would contribute around USD1.8 billion (nearly HKD14.1 billion). AAStocks Financial News |
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