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New World China Land Suspends Stock Trading Pending Announcement

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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

March 11 (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.

To contact the reporters on this story: Simon Lee in Hong Kong at slee936@bloomberg.net; Vinicy Chan in Hong Kong at vchan91@bloomberg.net

To contact the editors responsible for this story: Andreea Papuc at apapuc1@bloomberg.net Tan Hwee Ann

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