New World China Land Suspends Stock Trading Pending AnnouncementSimon Lee and Vinicy Chan
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.