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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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 for each H-share in Dalian Wanda Commercial Properties Co, the real estate company said in a statement on Wednesday, 24 per cent above the stock's closing price in Hong Kong on March 30. The shares surged 21 per cent to HK$47.20 in Hong Kong on Thursday.
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