CHINA New Town Development (CNTD) listed in Singapore in 2007 and in Hong Kong three years later to warm investor reception, but two factors have since been keeping it from reaching its full potential.
One is its status as a non-state-owned enterprise, and the other, its limited financial chops.
A game changer is around the corner for CNTD, which clears and prepares land for urban development. The China Development Bank (CDB), a state-owned policy bank which supports state-backed projects, is to give it an endorsement by subscribing for new shares and plumping up its capital base.
Additionally, an upcoming restructuring exercise will change the way CNTD operates, and consequently, beef...