New World Development received Shanghai StockStock refers to an ownership interest in a company, generally represented by shares. The term belongs in Level 7 because it helps connect macro conditions, policy, or another as...Read More ExchangeDefinition An exchange is an organised marketplace where buyers and sellers can trade financial assets according to a common set of rules. Examples of assets traded on exc...Read More approval for a proposed REIT listing expected to raise about 3.82 billion yuan.
Hong Kong developer New World Development said it received Shanghai Stock Exchange approval for the proposed spin-off and separate listing of a real-estate investment trust, advancing a transaction expected to raise about 3.82 billion yuan, or roughly $570 million. Reuters said it would be the first REIT offering by a Hong Kong developer on the Shanghai exchange. The approval gives the debt-heavy developer another capital-markets route while also marking a new link between Hong Kong property assets and mainland China's expanding public REIT MarketDefinition A market is an environment where buyers and sellers come together to exchange assets, goods, services, or financial instruments. Prices form as buyers and selle...Read More.
