Newspaper article International New York Times

Dalian Wanda May Seek to Delist Unit

Newspaper article International New York Times

Dalian Wanda May Seek to Delist Unit

Article excerpt

The potential privatization of Dalian Wanda Commercial Properties comes just 15 months after it raised $3.7 billion in a Hong Kong initial public offering.

Dalian Wanda Group of China said Thursday that it may privatize its commercial property company in a deal that could be worth about $4 billion.

The potential delisting of Dalian Wanda Commercial Properties comes just 15 months after it raised $3.7 billion in a Hong Kong initial public offering -- the largest listing in Asia for 2014. The company did not say why it had decided to think about privatizing so soon after going public.

The group said in a news release on the Hong Kong Stock Exchange that it would offer no less than 48 Hong Kong dollars a share, or about $6.20 a share. That would be almost 24 percent higher than the price at which the stock closed on Wednesday. …

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