Wanda Commercial Properties plans 2nd-biggest HK listing of up to $6b

Source:Reuters Published: 2014-9-8 23:18:01

Wanda Plaza in Wuhan, Central China's Hubei Province Photo: IC



Chinese real estate developer Dalian Wanda Commercial Properties, a unit of billionaire Wang Jianlin's Dalian Wanda Group, plans to raise up to $6 billion in a Hong Kong IPO this year, Reuters' magazine International Financing Review (IFR) reported over the weekend, citing sources with direct knowledge.

The IPO would be the biggest in Hong Kong since AIA Group raised $20.5 billion in 2010, Thomson Reuters data shows. Dalian Wanda Commercial Properties is the parent of Hong Kong-listed Wanda Commercial Properties.

IFR reported that Dalian Wanda Commercial Properties plans to file an application for the IPO soon and get listed before the end of the year.

Dalian Wanda Commercial Properties had originally planned an IPO in Shanghai, but its application lapsed in July after it had waited several years for approval from regulators, IFR said.

China International Capital Corp and HSBC were hired as sponsors of the IPO, IFR reported. The company will add more bookrunners to the deal at a later stage, according to the report.

Dalian Wanda Group Chairman Wang was ranked by Forbes as China's richest man last year.

The group operates in four major industries - commercial property, luxury hotels, culture and tourism and department stores. In 2013, the group's assets stood at 380 billion yuan ($62 billion), according to its website.



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