New World Development said to be making 2nd bid to take China unit private
Hong Kong
REAL estate developer New World Development Co Ltd plans to make an offer to take its 69 per cent-owned China property unit private, in a deal that could be worth US$2.1 billion, Bloomberg reported on Monday, citing a person with knowledge of the matter.
Trading in shares of New World Development and New World China Land Ltd, which has market value of HK$54 billion (S$9.9 billion), was suspended on Monday pending a statement in relation to takeovers and mergers. The companies gave no further details.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Foxconn’s musical chairs sound like punk rock
AI fuels cloud computing boom for tech giants
AMD slides after AI chip forecast misses lofty estimates
IBM wins reversal of US$1.6 billion poaching award to BMC
Binance founder Zhao Changpeng gets 4 months in prison
Singapore Airlines could post highest-ever earnings of about S$2.7 billion for FY2024, says analyst