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New World China to delist in Hong Kong on Aug. 4

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New World China to delist in Hong Kong on Aug. 4

New WorldChina Land Ltd.'s shares will be delisted on The Stock Exchange ofHong Kong Ltd., effective Aug, 4 at 9 a.m., local time.

The stock exchange approved the delisting application,following New World DevelopmentCo. Ltd.'s closed offer to take the company .

New World China's shares had been suspended from tradingsince April 6.

Easywin Enterprises Corp. Ltd., acting as the offeror onbehalf of New World Development, plans a compulsory acquisition of theremaining offer shares in New World China, which would be completed on Aug. 3,provided there are no objections filed with the Grand Court of the Cayman Islandsagainst the plan by July 28.

New World China previously it will continue to meet itsobligations to holders of the 3.00 billion-Chinese-yuan 5.50% bonds due 2018and US$900.0 million 5.375% notes due 2019, despite its imminent delisting fromthe Hong Kong bourse.

As of July 8, US$1 wasequivalent to 6.69 Chinese yuan.