New World Development Says SSE Accepts Proposed Spin-Off

By Reuters News

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

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