Wanda raising US$3bil ahead of HK IPO

The Han Show, a project by Wanda Group in Wuhan, features state-of-the-art theatre effects. - File pic

HONG KONG: Chinese conglomerate Dalian Wanda Group aims to raise 20 billion yuan (RM$3.08bil or RM12.62bil) for its commercial property management business, before listing the unit in Hong Kong by year-end, two people with direct knowledge of the matter told Reuters.

Wanda is targeting primarily private equity investors for Wanda Light Asset Commercial Management Co, aiming for a valuation of 200 billion yuan, said the people.