Photographer: Paul Yeung/Bloomberg New World Development Co.’s shares and bonds surged after people familiar with the matter said Blackstone Inc. is in advanced talks to become the single largest shareholder of the Hong Kong developer. The stock jumped as much as 12% to the highest since November 2023 before paring gains. If completed, the proposed deal would position the US investment firm to restructure the embattled developer and support its efforts to offload assets to shore up liquidity. Most Read ...