Cheng family mulls US$4 bln share sales to NWD, bets on property rebound: Bloomberg

New World Development's (0017) controlling shareholder, the Cheng family, is weighing to inject US$4 billion (HK$31.2 billion) via share sales into the indebted Hong Kong developer, Bloomberg News reported.

The Cheng family believes Hong Kong’s property market is poised for an accelerated rebound, prompting a more cautious stance to investor selection as the urgency to bring in new strategic investors has diminished, according to the report.

The family has considered options such as a US$4 billion share sale, which would require the Chengs, with their approximate 45 percent stake, to contribute around US$1.8 billion.

All discussions are in the initial phase,  and details, including investment scale, may be changed.

Earlier, talks between Blackstone's investment and NWD have stalled as the ​Cheng family resists giving up its control.