Hong Kong Exchanges and Clearing Limited (HKEX) has announced the arrangements for the adjustment to New World Development Company Limited (New World Development) structured products, futures and options to account for New World Development’s share consolidation.
Corporate action overview
| Company (Stock code) |
New World Development (17) |
|
Corporate action
|
Every four issued Existing Shares be consolidated into one Consolidated Share
|
|
Effective date
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23 June 2020
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Please refer to the announcements made by New World Development on 27 April 2020 for details.
Investors should consult their brokers for further details, or if they have any questions regarding the adjustment.
Structured products with shares of New World Development as underlying asset
The listing documents of all existing structured products with the shares of New World Development as underlying asset contain provisions that deal with consolidations. Structured product issuers will make announcements in the evening of 22 June 2020 regarding the relevant adjustments (including the adjusted entitlement and adjusted exercise price) and investors should read the contents of such announcements carefully.
Adjustment of New World Development Futures and Options
For detailed trading and clearing arrangement of New World Development Futures and Options after the adjustments, please refer to the circulars posted on HKEX website.
Investors should note that the adjusted and standard stock futures and options will have different contract sizes. There will not be any changes to the number of open positions and other contract terms after the transfer of positions.
Ends