Shares of New World Development Co. Ltd. (00017) plummeted 5% intraday on Monday amid speculation that the Hong Kong property developer was in talks to restructure its existing debt. The sell-off came after the company issued a statement denying such rumors.
In a brief filing, New World Development said it has not commenced any discussions with creditors regarding a proposal to restructure its debt. The company's denial appears to be in response to market rumors that had been circulating about its financial health and ability to service its obligations.
New World Development, one of Hong Kong's largest property companies, has been facing challenges in recent years due to the city's cooling housing market and economic headwinds. While the company has been taking steps to strengthen its balance sheet, concerns about its debt levels have weighed on investor sentiment.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。