New World Development (NWD) shares dropped on Tuesday after the property developer said it has not received a proposal from its controlling shareholder, the billionaire Cheng family, on a capital injection.
“Save that the company is in discussions with respect to a loan facility led by Deutsche Bank as part of the company’s ordinary course financing activities, the company has not received any funding proposal as alleged in the rumours,” NWD said on Monday night.
NWD’s shares fell 2.7 per cent…
Source : South China Morning Post
Read more…NWD says it has not received proposal from Cheng family on capital injection















