Top Dalian Wanda executive resigns

Hong Kong

THE chief architect behind Dalian Wanda Group's US$4.4 billion buyout to take its flagship Hong Kong-listed property arm private and relist it in China has resigned without seeing the plan through, according to an internal memo.

The resignation of Lu Xiaoma from the post of vice-president of Dalian Wanda Financial Group signals the difficulties the conglomerate, owned by China's richest man, Wang Jianlin, is having listing the property business in China, analysts said.