Dalian Wanda makes $4.4 billion offer to take Hong Kong-listed property arm private

May 30, 2016 5:23 AM

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Dalian Wanda makes $4.4 billion offer to take Hong Kong-listed property arm private

HONG KONG China's Dalian Wanda Group, owned by tycoon Wang Jianlin, is offering HK$34.45 billion ($4.4 billion) in cash to buy out Hong Kong-listed unit Dalian Wanda Commercial Properties (3699.HK), taking it private before it relists in Shanghai.

The company is planning to delist just 15 months after its stock market debut, unhappy with its share performance and preferring to place its bets on an upcoming Shanghai listing where it believes it will get better valuations.

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