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Billionaire Wang Jianlin seeks to privatise property unit; shares rise

His group is considering offer of HK$48 or more for each H-share in Wanda Commercial

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Mr Wang, whose wealth is rivalled only by Alibaba Group's Jack Ma among Chinese tycoons, said in mid-January that Wanda is planning five major acquisitions in 2016 - three of them overseas.

Beijing

BILLIONAIRE Wang Jianlin is considering privatising Dalian Wanda Group Co's property unit in Hong Kong in a deal worth at least HK$31.3 billion (S$5.4 billion) after shares halved in value in less than a year.

The closely held group is considering an offer of HK$48 or more

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