New World exits investment in China Everbright International

New World Holdings raises $91 million from the sale of its remaining 4.8% stake at a 4% discount.

NWS Holdings last night sold its entire remaining stake in China Everbright International, a company involved in the management of various environmental protection projects, raising HK$708.8 million $91 million. The sale came after the Hong Kong stock market shook off the decline over the past couple of days and gained 1.25%. China Everbright International also gained 2.4% on the day, adding to an already strong performance over the past month.

The seller, which is the infrastructure and services flagship of the Chen Yu Tung’s New World Development Group with businesses ranging from roads, water and ports projects to city bus and ferry services, offered all its 173.298 million shares, representing a 4.8% stake...

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