Dalian Wanda Group's unit may seek backdoor listing

Hong Kong

CHINESE tycoon Wang Jianlin's Dalian Wanda Commercial Properties may seek a "backdoor listing" on the Shanghai Stock Exchange if it does not get regulatory approval to launch a planned initial public offering (IPO) there soon, said two people with knowledge of the matter.

The prospect of buying a shell firm as a means to establish a listing in Shanghai - known as a backdoor listing - was raised internally, just as parent Dalian Wanda Group worked out plans this year to take the Hong Kong-listed real estate developer private, one of the pair said.