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New World Development Announces Connected Property Sale

Story Highlights
  • New World Development sold a property unit to its CEO for HK$54,880,000.
  • The transaction includes specific reporting requirements and offers cash rebates for early completion.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
New World Development Announces Connected Property Sale

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An update from New World Development ( (HK:0017) ) is now available.

New World Development, a Hong Kong-based company, announced a connected transaction involving the sale of a property unit in the State Pavilia residential redevelopment project. The property was sold to Ms. Huang Shaomei, Echo, an executive Director and the CEO of the company, for HK$54,880,000. This transaction, due to its nature involving a connected person, is subject to specific reporting and announcement requirements under the Listing Rules. The sale includes a structured payment method and offers potential cash rebates for early completion, as well as an additional benefit of a three-year patronship at the HKGTA Town Club.

More about New World Development

YTD Price Performance: -13.28%

Technical Sentiment Consensus Rating: Buy

Current Market Cap: $1.35B

For an in-depth examination of 0017 stock, go to TipRanks’ Stock Analysis page.

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