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NEW WORLD DEV Wanes 3.6% as UBS Says Firm Fails to Redeem US$345M Perpetual Bonds Last Fri
NEW WORLD DEV (00017.HK) cascaded 3.6% to $4.56, with over 4.71 million shares traded, involving more than $21.59 million. Last Friday (16th) was the last call date for the outstan...
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NEW WORLD DEV Wanes 3.6% as UBS Says Firm Fails to Redeem US$345M Perpetual Bonds Last Fri
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SHORT SELL
 
STOCK INFO

NEW WORLD DEV (00017.HK)  -0.010 (-0.222%)    Short selling $24.48M; Ratio 35.615%   cascaded 3.6% to $4.56, with over 4.71 million shares traded, involving more than $21.59 million.

Last Friday (16th) was the last call date for the outstanding US$345 million perpetual bonds of NEW WORLD DEV, according to UBS' research report.

Related NewsUBS Sets NWD's TP at HKD4; Focus on Group's Decision to Redeem Perpetual Bonds or Not
Due to the unredeemed perpetual capital securities, the coupon rate of the perpetual bonds will be increased from 6.15% to 10.1% from 16 June. UBS expected NEW WORLD DEV's share price to react negatively to this.

Although the delay in interest distribution is not considered a technical default, it may affect the current refinancing negotiations with banks. Therefore, the broker rated NEW WORLD DEV at Sell, with a target price of $4.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-05-19 16:25.)

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