New World Development unveils plan to raise HK$24.9b
Property developer New World Development said on Sunday its board has proposed a recapitalisation plan aimed at raising about HK$24.9 billion, according to company filing. The plan offers shareholders 11 new shares for every existing share at HK$0.90 each. The company plans to use the proceeds to prepay 10 percent of about HK$82 billion in bank loans and extend the maturity of the remaining 90…
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