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NWD Reportedly Plans Rights Issue to Raise Up to HKD25B
2026-11-13 10:02:05 NEW WORLD DEV (00017.HK) has hired banks to prepare for a rights issue to raise up to HKD25 billion (approximately USD3.2 billion), Bloomberg, citing people familiar with the matter, reported. The Cheng family, the controlling shareholder, intends to participate in the rights issue and inject fresh capital into the heavily indebted company. Banks are reportedly considering participating in the offering through a "soft underwriting" arrangement, under which banks will use their best efforts to find external investors instead of committing their own capital to subscribe for any unsold shares. Representatives of NEW WORLD DEV and the Cheng family did not immediately respond to requests for comment. Trading in shares and bonds of NEW WORLD DEV was briefly halted from 9 a.m. today (13th), while all structured products related to the company were also suspended pending the release of an announcement containing certain inside information. ~ AASTOCKS Financial News Website: www.aastocks.com | |