China's richest man likely to gain support for Wanda delisting

Hong Kong

CHINESE tycoon Wang Jianlin appears likely to win backing on Monday for a US$4.4 billion Hong Kong delisting of Dalian Wanda Commercial Properties, several shareholders said - part of a grand scheme to reap higher valuations by going public on the mainland.

The HK$52.80 per share offer by China's richest man for shares in the flagship firm of his Wanda empire represents only a 10 per cent premium to pricing for its IPO that took place less than two years ago, and some analysts were initially sceptical that it would be enough.