Dalian Wanda delists

Dalian Wanda Commercial Properties, the Hong Kong-listed arm of the Chinese commercial property developer, has secured shareholder approval for its offer to be taken private.
In all, 88 per cent of eligible shareholders have voted in favour of taking the company off the Hong Kong exchange with the purpose of relisting in China.
At $4.4 billion, it will be the largest privatisation in Hong Kong history if it goes ahead, says Real Money.
Shares, trading at HK$38.80 (US$5) were suspended pending the announcement – a 35 per cent gain.
Meanwhile, other property developers such as Beijing Capital Land, China Evergrande Group and Guangzhou R&F Properties are reportedly looking to delist in Hong Kong and relocate to the mainland.
Wanda Commercial’s parent Dalian Wanda Group has offered HK$52.80 a share, a 10 per cent improvement on its initial offer.
The Wanda Group still maintains a Hong Kong listing for Wanda Hotel Development.

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