According to reports, Chow Tai Fook Enterprises is seeking refinancing for a loan of 7.3 billion yuan
According to sources cited by Bloomberg, Chow Tai Fook Enterprises is seeking to refinance a loan of approximately HKD 7.3 billion that is due in June, and is currently in preliminary discussions regarding a potential five-year loan.
Chow Tai Fook Enterprises is the largest shareholder of New World (00017.HK), which has been facing funding difficulties in recent years. As Chow Tai Fook holds over 40% of New World's shares, its financing moves are closely watched and seen as an indicator of banks' confidence in the Hong Kong real estate industry
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