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China's Dalian Wanda raises 5b yuan in crowdfunding

Saturday, June 20, 2015 - 05:50
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NET FINANCING: Dalian Wanda Group said last week that investors would gain nnualised returns of 12 per cent.

Hong Kong

DALIAN Wanda Group, China's largest commercial property developer, said it raised five billion yuan (S$1.07 billion) last week from investors online and will also use crowdfunding to refinance another 5 billion yuan in two weeks.

Major Chinese real estate developers have