New World jumps on easing cash crunch pressure after expanding loan facility

New World Development

02/10/2026 03:07

** Shares of New World Development 0017.HK jump 10.7% to HK$6.7, their highest level since September 7
** Stock last up 4.7%, on track for the biggest one-day pct gain since August 12 in the third straight rising session
** The property developer said on Wednesday its cash crunch had eased further after expanding a loan facility by around HK$1 billion ($127.5 million) and terminating operating rights for a shopping mall next to the Hong Kong airport
** New World said its loan facility with Deutsche Bank DBKGn.DE was increased to HK$4.9 billion from HK$3.95 billion committed in June
** Termination charges pushed up New World's net loss to HK$28.1 billion for the financial year ended June, from a net loss of HK$16.3 billion in the previous year
** Excluding non-cash losses, New World posted core profit of HK$2.2 billion, its first in three years
** YTD, stock down 12.9%, benchmark Hang Seng Index .HSI down 6.2%



 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))