New World Development (HK:0017) has released an update.
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New World Development Company Limited has announced its ongoing negotiations for the potential sale of its entire stake in Kai Tak Sports Park Limited to Chow Tai Fook Enterprises Limited, a connected entity. While no binding agreement has been reached, the transaction hinges on key terms, including pricing and requisite government and regulatory approvals. Shareholders and potential investors are cautioned to be prudent in their dealings as the sale’s finalization is not guaranteed.
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