New World Development (HK:0017) has released an update.
New World Development has announced the sale of a 30% equity interest in Sky Treasure Development Limited for RMB1,440,450,187. The transaction, involving an indirect wholly-owned subsidiary of the company and a connected person, adheres to the Hong Kong Listing Rules, requiring reporting and independent shareholder approval. Following the completion of this deal, the company will no longer hold any direct or indirect interest in Sky Treasure Development Limited.
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