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Bond Market News
Wanda’s Property Management Unit files for Hong Kong IPO
October 25, 2021
Dalian Wanda Group’s property servicing arm, Zhuhai Wanda Commercial Management Group has filed for a listing on the Hong Kong Stock Exchange (HKSE) with a value up to $4bn, as per sources. The company is 69.99% owned by Dalian Wanda Commercial Management (DWCM) and according to media reports, its billionaire founder Wang Jianlin is seeking to raise between $3bn and $4bn. The filing document on the HKSE website however did not mention the amount of funds targeted. Last month, Dalian Wanda raised almost $6bn for the commercial property management business. The planned Hong Kong listing comes after it withdrew its plan to list on the Shanghai Exchange despite waiting for five years without any progress.
Dalian Wanda’s 6.95% 2022s are trading at 96.55, yielding 10.32%
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