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New World Development weighs up to $3.2 billion rights issue, Bloomberg News reports

By Reuters News

Nov 13 (Reuters) - Hong Kong property developer New World Development 0017.HK has appointed banks to prepare for a rights issue that could raise as much as HK$25 billion ($3.19 billion), Bloomberg News reported on Friday, citing people familiar with the matter.

Trading in New World's shares was halted on Friday pending the release of inside information by the company, according to a pre-market filing to the Hong Kong exchange.

($1 = 7.8442 Hong Kong dollars)

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