Hong Kong developer New World gets nod to spin off K11 Shanghai assets
Culture Index
Score Breakdown
Relevance
3/25
Freshness
24/25
Authority
18/20
Brand Signal
6/15
Depth
6/15
5-Axis Cultural Radar
New World Development (NWD) received the green light from the Shanghai Stock Exchange to spin off and list a Reit (real estate investment trust) on the bourse, according to the distressed developer controlled by one of Hong Kong’s wealthiest families. The expected offering size for the NWD C-Reit was about 3.82 billion yuan (US$570 million), from which the group’s estimated net proceeds would be 3
