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BUZZ-New World Development falls after it denies report on receiving funding proposals

Reuters
Sep 02
BUZZ-<a href="https://laohu8.com/S/NWC.AU">New World</a> Development falls after it denies report on receiving funding proposals

** Shares of New World Development 0017.HK fall 4.1% to HK$6.78, their biggest one-day pct drop since Aug 12

** Set to snap three straight sessions of gain

** On Monday, Hong Kong property developer confirmed talks on Deutsche Bank AG DBKGn.DE-led loan facility but denied receiving other funding proposals

** Rejects Bloomberg report that controlling shareholder Henry Cheng's family weighing HK$10 bln ($1.28 bln) capital injection via JV

** Says it hasn't received any funding proposal "as alleged in the rumours"

** Hang Seng Composite Index tracking properties and construction stocks .HSCIPC eases 0.9%, benchmark Hang Seng Index .HSI slips 0.4%

** YTD, New World stock up 33.5% vs HSCIPC's 17.8% gain and HSI's rise of 27.1%

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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