Hong Kong's Lackluster IPO Market Suddenly Comes To Life Billionaire Cheng Yu-tung's New World Development has moved a step closer to raising up to $1 billion by listing some of its hotel assets in Hong Kong. The blue-chip conglomerate, which has interests ranging from infrastructure to transport, has received regulatory approval to spin off three of its hotels in a trust.
June 10, 2013 - Forbes
New World Said to Gauge Demand for $700 Million Hotels Listing New World Development Co. (17) , the Hong Kong builder controlled by billionaire Cheng Yu-tung , started gauging demand for an initial public offering of its local hotels, two people with knowledge of the matter said.
June 10, 2013 - Bloomberg
Martin Lee in International Herald Tribune Donald Tsang is not Tung Chee-hwa - Tung Chee-hwa says the wrong things, does the wrong things,Lee said. "Donald Tsang is very PR-conscious and defuses problems, and the economy is good."