Property News · July 12, 2021

New World makes biggest stock buyback since December to boost share price as financial toll from The Pavilia Farm demolition rises


New World Development made its biggest share buy-back in nearly seven months last week, as it sought to put a floor under its share price the day after announcing the unprecedented demolition of two apartment blocks still under construction to fix defects.The developer repurchased 3 million of its own shares at between HK$37.10 and HK$37.65 each for HK$112.04 million (US$14.43 million) in total on Friday, according to a filing to the Hong Kong stock exchange. The stock plunged by as much as 5.7…

Source : South China Morning Post
Read more…New World makes biggest stock buyback since December to boost share price as financial toll from The Pavilia Farm demolition rises

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