Dalian Wanda Completes $3.7B Hong Kong IPO

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Chinese property developer Dalian Wanda Commercial Properties Co., controlled by Chinese billionaire Wang Jianlin, has raised HK$28 billion (US$3.7 billion) in an IPO on the Hong Kong Stock Exchange, according to a regulatory filing.

Wanda issued 600 million new shares at HK$48 per share, near the higher end of an indicative price range of HK$41.8 to HK$49.6.

The float was 5.32 times over-subscribed, and gives Wanda a market capitalization of HK$215 billion (US$28 billion).

China Money Network

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