New World group seeks $2 billion from rights issues

New World Development aims to raise HK$11.3 billion from a November rights issue and will also underwrite a HK$4.29 billion rights offering for New World China Land in December.
<div style="text-align: left;"> Managing director Henry Cheng at the company's annual results announcement </div>
<div style="text-align: left;"> Managing director Henry Cheng at the company's annual results announcement </div>
October 19, 2011

New World Development and its 69%-owned subsidiary, New World China Land, have announced plans to raise a combined HK$15.6 billion ($2 billion) from two separate rights issues in November and December.

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