China's Wanda raising $3 billion ahead of HK IPO for property management unit - sources

China's Wanda raising $3 billion ahead of HK IPO for property management unit - sources
By Julie Zhu and Kane Wu
Reuters
HONG KONG (Reuters) - Chinese conglomerate Dalian Wanda Group aims to raise 20 billion yuan ($3.08 billion) 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.
Several prospective investors tapped by Wanda and its financial advisors, however, have found that valuation "too high", one of the people said.

Related Keywords

China , Hong Kong , Chinese , Wang Jianlin , Christopher Cushing , Kane Wu , Julie Zhu , Wanda Commercial Management Group , Wanda Light Asset Commercial Management Co , Dalian Wanda Group , Reuters , Sunac China Holdings Ltd , Shimao Group Holdings Ltd , China Evergrande Group , Wanda Group , Evergrande Property Services Group Ltd , Evergrande Group , Evergrande Property Services Group , சீனா , ஹாங் காங் , சீன , கிறிஸ்டோபர் குஷிங் , கேன் வு , ஜூலி ஜு , வாஂட வணிகரீதியானது மேலாண்மை குழு , டேலியன் வாஂட குழு , ராய்ட்டர்ஸ் , ஷீமபோ குழு ஹோல்டிங்ஸ் லிமிடெட் , வாஂட குழு ,