Henry Cheng

Money Moves

Leading the recapitalisation

New World Development will ask shareholders to buy 11 new shares for every one they already own, at HK$0.90 each. That price is 82% below the HK$4.87 the stock last traded at before the company halted trading on Friday. The fully underwritten sale aims to raise HK$24.9 billion, or about US$3.2 billion.

Updated 49 minutes ago