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NWD Wishes to Sell K11 Art Mall at $9B, but CR Longdation Offers $6B: Wire
Although NEW WORLD DEV (00017.HK) was approached by CHINA RES LAND (01109.HK)'s China Resources Longdation for the sale of its K11 Art Mall in Tsim Sha Tsui, both parties are a...
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NWD Wishes to Sell K11 Art Mall at $9B, but CR Longdation Offers $6B: Wire
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Although NEW WORLD DEV (00017.HK)  +0.190 (+4.634%)    Short selling $19.99M; Ratio 12.464%   was approached by CHINA RES LAND (01109.HK)  +0.500 (+2.179%)    Short selling $70.63M; Ratio 20.481%   's China Resources Longdation for the sale of its K11 Art Mall in Tsim Sha Tsui, both parties are at a stalemate because of a disagreement over the price, Bloomberg reported, quoting people familiar with the matter.

NWD purportedly wishes to sell K11 Art Mall at $9 billion, but China Resources Longdation is only willing to offer about $6 billion.

Related NewsHSBC Research: Unexpected Optimism Seen in CN Property Mkt Early This Yr; CHINA RES LAND/ CHINA RES MIXC/ BEKE-W Preferred
NWD had released a business update yesterday (23rd), stressing that it continues to carry out its businesses as usual and will maintain its focus on real estate development as its core operations, including launching residential projects in Hong Kong and selling diversified projects in the Mainland.

The company's share price opened 1.72% higher today (24th), peaking at $4.26. It last traded at $4.17, up 2.71%, with a turnover of $37.7841 million.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-02-07 16:25.)

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