Mar
30
Billionaire Wang Seeks to Privatize Property Unit; Shares Rise
By-
Deal would be latest in busy year for Wanda’s Wang Jianlin
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Wanda Commercial shares have lost 50% in less than a year
Billionaire Wang Jianlin is considering privatizing Dalian Wanda Group Co.’s property unit in Hong Kong in a deal worth at least HK$31.3 billion ($4 billion) after shares halved in value in less than a year.
The closely held group is considering an offer of HK$48 or more for each H-share in Dalian Wanda Commercial Properties Co., the real estate company said in a statement on Wednesday, 24 percent above the stock’s closing price in Hong Kong on March 30. The shares surged 21 percent to HK$47.20 in Hong Kong on Thursday…
Billionaire Wang Seeks to Privatize Property Unit; Shares Rise
