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Dalian Wanda to seek HK approval for up to $6 billion IPO on Monday
Chinese real estate developer Dalian Wanda Commercial Properties, a unit of billionaire Wang Jianlin's Dalian Wanda Group, will seek approval from Hong Kong's bourse for an up to $6 billion initial public offering on Monday, IFR reported late on Wednesday citing sources familiar with the plans.
The deal is still expected to happen before the end of 2014, a separate source with direct knowledge of the plans said on Thursday.
"The plan to list this year has not changed," said the source, who declined to be identified because details of the IPO aren't yet public.
Dalian Wanda Commercial Properties received approval from China's securities regulator for the IPO, clearing the way for the company to seek the green light from the Hong Kong stock exchange later this week for the deal, IFR, a Thomson Reuters publication, reported on Monday.
China International Capital Corp (CICC) and HSBC were hired as sponsors of the IPO, with Bank of America Merrill Lynch, BOC International, Goldman Sachs and UBS also leading the transaction, IFR said.