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Dalian Wanda seeks up to US$3.86b in trimmed down Hong Kong IPO

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The Dalian Wanda Group headquarters, center, stands in Dalian, China, on Saturday, Sep 14, 2013. Dalian Wanda Commercial Properties, the world's second-largest developer of shopping malls and office buildings, is seeking to raise between US$3.2 billion (S$4.23 billion) and US$3.86 billion through a Hong Kong initial public offering, IFR reported on Saturday.

[HONG KONG] Dalian Wanda Commercial Properties, the world's second-largest developer of shopping malls and office buildings, is seeking to raise between US$3.2 billion (S$4.23 billion) and US$3.86 billion through a Hong Kong initial public offering, IFR reported on Saturday.

Dalian Wanda Commercial Properties, a unit of billionaire Wang Jianlin's Dalian Wanda Group, is offering 600 million new shares in a range of HK$41.80-HK$49.80 each, giving the company market value of between US$20.8 billion and US$24.7 billion, Thomson Reuters publication IFR said citing sources with direct knowledge of the matter.

The company, which was initially planning to raise up to US$6 billion through the IPO, received approval from Hong Kong's stock exchange on Monday. The deal is expected to be launched on Dec 8, with pricing slated for Dec 15.

The company did not respond to email seeking comment.

REUTERS

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