Hong Kong billionaire Cheng family’s New World Development secures Shanghai bourse approval for $570M REIT listing
The company, controlled by Hong Kong’s billionaire Cheng family, said on Monday it expects to subscribe for 20% of the total units at listing, while external investors would take the remaining 80% for an aggregate 3.05 billion yuan. As part of the transaction, New World will sell the holding company of Shanghai Hong Kong New … Read more