New World China Land Suspends Stock Trading Pending Announcement

Billionaire Cheng Yu-tung
Cheng Yu-tung, chairman emeritus of New World Development Co., is seen in this 2011 file photo. Photographer: Jerome Favre/Bloomberg

New World China Land Ltd., the developer controlled by billionaire Cheng Yu-tung’s New World Development Co., suspended trading in Hong Kong pending an announcement.

The company has an announcement “in relation to certain inside information,” New World China Land said in a statement to the Hong Kong stock exchange today. Shares of its parent New World Development are also suspended pending an announcement.

Karen Wong, a spokeswoman at New World Development, declined to comment when reached by phone.