New World clarifies no perpetual bonds restructuring, equity financing plan

New World Development (0017) said it is not restructuring its perpetual bonds, nor has it received any equity financing proposal, following reports that the embattled local developer intends to do so.

The company clarified in a filing that it is not undertaking any liability management exercise regarding its perpetual or other debt securities and has not received any equity financing proposal from investors. 

It will make further announcements as and when appropriate in accordance with the relevant requirements, the filing said. 

The firm’s shares closed 2.6 percent higher before the announcement.