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<Research>BofAS: Concern on Whether NEW WORLD DEV to Delay Perpetual Bonds Coupon Distribution w/ Unfavorable Risk Return
NEW WORLD DEV (00017.HK) has not redeemed its perpetual bonds. BofA Securities issued a research report saying that the call was in line with expectations as a call on its perpetua...
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<Research>BofAS: Concern on Whether NEW WORLD DEV to Delay Perpetual Bonds Coupon Distribution w/ Unfavorable Risk Return
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NEW WORLD DEV (00017.HK)  -0.070 (-1.552%)    Short selling $11.63M; Ratio 43.617%   has not redeemed its perpetual bonds. BofA Securities issued a research report saying that the call was in line with expectations as a call on its perpetual bonds at this time might complicate its refinancing negotiations with banks.

BofA Securities believed that the more important event now is whether NEW WORLD DEV will defer the US$84 million perpetual debt distribution in June.

Related NewsNEW WORLD DEV Wanes 3.6% as UBS Says Firm Fails to Redeem US$345M Perpetual Bonds Last Fri
Due to its high net gearing ratio, the fact that it is not expected to pay dividends in FY2025-FY2027, and unfavorable risk-reward profile, the broker reiterated rating at Underperform, with a target price of $3.4.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-05-21 16:25.)

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