New World Department Store China Limited is a

Hong Kong Hong Kong ( (US) or (UK); , ), officially the Hong Kong Special Administrative Region of the People's Republic of China ( abbr. Hong Kong SAR or HKSAR), is a city and special administrative region of China on the eastern Pearl River Delt ...

-based holding company for

department store A department store is a retail establishment offering a wide range of consumer goods in different areas of the store, each area ("department") specializing in a product category. In modern major cities, the department store made a dramatic app ...

chains in the

Mainland China "Mainland China" is a geopolitical term defined as the territory governed by the People's Republic of China (including islands like Hainan or Chongming), excluding dependent territories of the PRC, and other territories within Greater China. ...

. New World Department Store China is a

subsidiary A subsidiary, subsidiary company or daughter company is a company owned or controlled by another company, which is called the parent company or holding company. Two or more subsidiaries that either belong to the same parent company or having a s ...

of another listed company

New World Development New World Development Company Limited (NWD), is a Hong Kong-based company focused on property developer in Hong Kong, property, hotels, infrastructure and services and department stores. It was established on 29 May 1970 by Cheng Yu-tung. The ...

. It has self-owned stores and managed stores in Mainland China and in the past in Hong Kong. It operates under two

brands A brand is a name, term, design, symbol or any other feature that distinguishes one seller's good or service from those of other sellers. Brands are used in business, marketing, and advertising for recognition and, importantly, to create an ...

: "New World" () and ''Ba-li Chun-tian'' (). The

chairman The chairperson, also chairman, chairwoman or chair, is the presiding officer of an organized group such as a board, committee, or deliberative assembly. The person holding the office, who is typically elected or appointed by members of the grou ...

Henry Cheng Henry Cheng Kar-shun, GBM, GBS ( Chinese: 鄭家純; born 11 December 1946) is a Hong Kong billionaire property developer. Cheng is the elder son of Cheng Yu-tung who founded Hong Kong-listed New World Development of which Henry succeeded ...

, the son of the Hong Kong

billionaire A billionaire is a person with a net worth of at least one billion (1,000,000,000, i.e., a thousand million) units of a given currency, usually of a major currency such as the United States dollar, euro, or pound sterling. The American busin ...

Cheng Yu-tung Cheng Yu-tung GBM (; 8 August 1925 – 29 September 2016) was a Hong Kong billionaire with extensive property investment, development and service businesses, hotels, infrastructure, jewellery retailing and transportation interests in Hong Kong, ...

. It was listed on the

Stock Exchange of Hong Kong The Stock Exchange of Hong Kong (SEHK, also known as Hong Kong Stock Exchange) is a stock exchange based in Hong Kong. As of the end of 2020, it has 2,538 listed companies with a combined market capitalization of HK$47 trillion. It is repo ...

with

IPO An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...

price of HK$5.8 per share.New World taps into retain boom with IPO
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References

External links

* Companies listed on the Hong Kong Stock Exchange Civilian-run enterprises of China Department stores of Hong Kong Department stores of China New World Development subsidiaries Retail companies established in 1993 Retailing in Hong Kong {{HongKong-company-stub

See also

References

External links