Trading in shares of New World Development halted pending statement, HKEx filing shows (updated)

New World Department Store China

29/11/2024 07:05

(Add stocks prices, milestones in paragraphs 4-5)
       HONG KONG, Nov 29 (Reuters) - Trading in shares of Hong
Kong property developer New World Development  0017.HK  was
halted on early Friday afternoon pending a company statement,
according to a filing from the Hong Kong bourse.
    Trading in shares of New World Department Store China Ltd
 0825.HK  was also halted. 
    New World's CEO, Eric Ma, is expected to step down from the
Hong Kong-based property developer, Bloomberg News reported on
Friday, citing people familiar with the matter.
    New World Development's shares dropped as much as 6.9% to
HK$6.37, their lowest since Sept. 16. Stock last traded down
5.99% at HK$6.43.
        New World Department Store's shares fell 6.6% prior to
the trading suspension. 
  

 (Reporting by Hong Kong newsroom; Editing by Himani Sarkar and
Janane Venkatraman)
 ((donny.kwok@thomsonreuters.com; +852 3462 7745;))