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Bond Market News
NWD Provides Update on Speculation Regarding Blackstone Stake Talks
February 2, 2026
New World Development (NWD) responded to the ongoing market speculation following reports that Blackstone was in talks to acquire a stake that could make it their largest shareholder. The developer clarified that while its parent, Chow Tai Fook Enterprises (CTFE), has been approached by multiple potential investors, no definitive agreements have been reached concerning a transaction. Also, NWD’s statement did not specifically mention Blackstone. To recap, reports indicated that Blackstone was in advanced negotiations to become NWD’s single largest shareholder, potentially displacing the founding Cheng family. If a deal materializes, Blackstone would reportedly lead a comprehensive restructuring of NWD. Under Hong Kong rules, any single investor or group acting together that acquires a stake of 30% or more of a listed company must offer to buy all outstanding stock, which could lead to a privatization. Reports note that a change of control event could help accelerate NWD’s disposal of assets that include shopping malls, offices and residential properties.
NWD’s dollar bonds continue to climb higher with its 4.125% Perp trading higher by 1.5 points at 70.1, yielding 22.8%.
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