New World Development (HK:0017) has released an update.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
New World Development has agreed to sell its entire stake in New World Sports Development Limited to CTFE for HK$416.7 million, marking a significant connected transaction. As CTFE already holds a substantial share in New World Development, this deal aligns with the company’s strategic financial maneuvers while adhering to Hong Kong’s regulatory framework. The transaction, part of a broader restructuring involving novation and termination deeds, is set to reshape the ownership landscape of the Kai Tak Sports Park project.
For further insights into HK:0017 stock, check out TipRanks’ Stock Analysis page.
Trending Articles:
- “The No. 1 Destination for the Most Talented Artists”: Netflix Stock (NASDAQ:NFLX) Notches Up as the Duffer Brothers Consider Jumping Ship
- “Breakthrough EVs”: Ford Stock (NYSE:F) Notches Up on New Battery Details
- “An Equity Stake”: Intel Stock (NASDAQ:INTC) Surges as U.S. Government May Buy In With CHIPS Act Money