3 days ago
New World Development drops after company to defer coupon payments
HONG KONG, June 2 (Reuters) - Shares of New World Development ( opens new tab dropped as much as 9.8% after the Hong Kong property developer said it would defer coupon payments scheduled for June on perpetual bonds, casting further liquidity concerns for the cash-strapped firm.
The shares fell to HK$4.32 ($0.5508) each, their lowest since April 9. That compared to a 1.9% fall in benchmark Hang Seng Index. (.HIS), opens new tab
($1 = 7.8428 Hong Kong dollars)
