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Market Impact: 0.35
New World Shares Jump After 11 Skies Exit Fuels Deal Hopes
Source: Bloomberg
Housing & Real EstateCompany FundamentalsM&A & RestructuringInvestor Sentiment & Positioning
New World Development shares rallied on Friday despite the Hong Kong property developer reporting a HK$28.1 billion ($3.6 billion) loss. Investors focused on the prospect of a new investor and the company's exit from a multibillion-dollar project with Hong Kong's Airport Authority, which could ease financial and project-related pressure.
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