not vested
NEW WORLD CHINA's privatization plan vetoed; Henry Cheng: Game rule not reasonable
Jun 17, 2014
NEW WORLD CHINA (00917.HK)'s Chairman Henry Cheng Kar Shun said the privatization plan get vetoed mainly because the rule of the game is not reasonable, but he will respect the results.
In addition, Cheng said the proceeds of over $13 billion raised by NEW WORLD DEV (00017.HK) earlier for the privatization of NEW WORLD CHINA will now be used for the development of the latter.
Meanwhile, the company will also seek investment opportunities in Mainland and Hong Kong to increase its land reserves.
Source: AAStocks Financial News