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The latest announcement is out from New World Development ( (HK:0017) ).
New World Development Company has announced the sale of two property units in the State Pavilia residential redevelopment project in Hong Kong. The transactions involve the sale of Property A and Property B to Ms. Ip Mei-Hing, Katherine, the spouse of the company’s chairman, Dr. Cheng Kar-Shun, Henry, for a combined consideration of HK$14,869,000. These sales are classified as connected transactions due to the relationship between the purchaser and the company. Although the transactions are subject to reporting and announcement requirements under the Hong Kong Listing Rules, they are exempt from the need for independent financial advice and shareholder approval due to the applicable percentage ratios.
More about New World Development
YTD Price Performance: -14.13%
Average Trading Volume: 101
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $1.39B
See more insights into 0017 stock on TipRanks’ Stock Analysis page.
