Brief: New World Development Says SSE Accepts Proposed Spin-Off
BRIEF-New World Development Says SSE Accepts Proposed Spin-Off Sept 21 (Reuters) - New World Development Company Limited 0017.HK:
SSE ACCEPTS PROPOSED SPIN-OFF ON SEPT 19, 2026
STOCK EXCHANGE CONFIRMS COMPANY MAY PROCEED WITH PROPOSED SPIN-OFF
INDIRECT INTEREST IN PROJECT COMPANY TO BE REDUCED FROM 100% TO 20% AFTER SPIN-OFF
EXPECTED THAT GROUP WILL SUBSCRIBE FOR 20% OF TOTAL NUMBER OF UNITS OF REIT IN ISSUE AT TIME OF PROPOSED LISTING OF REIT
ASSET DISPOSAL CONSIDERATION EXPECTED TO BE RMB4,014 MILLION
REIT OFFERING ON SSE AT EXPECTED SIZE OF RMB3,818 MILLION
NEW WORLD DEVELOPMENT CO SEES 20% OF TOTAL UNITS TO BE SUBSCRIBED BY GROUP AT EXPECTED AGGREGATE SUBSCRIPTION PRICE OF RMB764 MILLION
ASSET DISPOSAL REFERS TO SALE OF SHANGHAI NEW WORLD HUAIHAI PROPERTY DEVELOPMENT
ESTIMATED NET PROCEEDS TO BE RECEIVED BY GROUP FROM PROPOSED SPIN-OFF RMB3,240 MILLION
Further company coverage: 0017.HK
((Reuters.Briefs@thomsonreuters.com;))
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