New World hits over 2-year high on report Blackstone to become largest shareholder

New World Development

30/01/2026 01:42

** Shares of New World Development 0017.HK jump 11.9% to HK$12.45, their highest level since November 2023, and on course for a second session of gains

** Private equity firm Blackstone BX.N is close to securing a deal that would make it the largest shareholder of Hong Kong's property developer New World Development, Bloomberg News reported on Thursday, citing people familiar with matter

** New World said in a statement that its controlling shareholder, CTFE, had been approached by several potential investors regarding possible investment in the company

** YTD, stock up 61.9%, benchmark Hang Seng Index .HSI up 8.4%

 (Reporting by Donny Kwok)

 ((donny.kwok@thomsonreuters.com))