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NEW WORLD DEV Craters 5% on Rumor of Blackstone Capital Injection Talks w/ Firm Hitting Snag as Cheung Family Reluctant to Give Up Control
Negotiations between Blackstone (BX.US) and NEW WORLD DEV (00017.HK) encountered obstacles because the Cheng family, which is at the helm, is unwilling to relinquish control, Bloom...
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NEW WORLD DEV Craters 5% on Rumor of Blackstone Capital Injection Talks w/ Firm Hitting Snag as Cheung Family Reluctant to Give Up Control
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Negotiations between Blackstone (BX.US)      and NEW WORLD DEV (00017.HK)  +0.600 (+7.547%)    Short selling $10.92M; Ratio 10.903%   encountered obstacles because the Cheng family, which is at the helm, is unwilling to relinquish control, Bloomberg quoted insiders as saying.

Blackstone has proposed injecting approx. US$2.5 billion into a special purpose vehicle, thereby becoming the largest shareholder of NEW WORLD DEV, while the Cheng family would invest US$1-1.5 billion, the report quoted sources as saying. As the Cheng family explores deals with other investors without giving up control, the pace of recent negotiations has slowed.

NEW WORLD DEV opened 0.84% lower this morning (4th), and bottomed at $9. It last printed at $9.06, down 5.33%, with 7.2588 million shares traded, involving $66.9134 million.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-04-08 16:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)

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