0017.HK Stock Today: January 30 Jumps on Blackstone Stake Talks
Blackstone New World Developer speculation drove a sharp move in Hong Kong today. 0017.HK opened about 5.6% higher on January 30 after New World Development said potential investors had approached the company. Bloomberg reported Blackstone is in advanced talks to become the largest single shareholder. Management cautioned that no agreement has been reached and there is no guarantee a deal will happen. We break down what a possible strategic stake could mean for New World Development stock and Hong Kong property investors.
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