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MARKETS & INVESTING | Staff Reporter, Hong Kong

New World Development plans to raise up to $1.6b via rights issue

The rights issue will involve up to 2.17 billion rights shares.

A Reuters report said, “New World Development said it planned to raise up to HK$12.34 billion ($1.6 billion) via a rights issue of up to 2.17 billion rights shares on the basis of one rights share for every two shares held at HK$5.68 each.”

The issue price, according to the report, represented a discount of 36.9 percent to the previous close.

View the report here.

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