New World Development (HK:0017) has released an update.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
New World Development has announced the sale of Target Companies and the grant of Rights to a company owned by Dr. Adrian Cheng, alongside a Trademark Licensing Agreement for a term of 30 years, with the possibility of renewal. These transactions are considered connected and continuing connected transactions under the Listing Rules, subject to various reporting, announcement, and review requirements. Although these transactions exceed certain percentage ratios, they are exempt from the need for independent shareholder approval.
For further insights into HK:0017 stock, check out TipRanks’ Stock Analysis page.