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Wanda Hotel requests trading halt amid possible asset restructuring

Trading in shares of Wanda Hotel Development Co. Ltd. on the Hong Kong stock exchange was halted the morning of Aug. 9 at the request of the company.

The halt was requested pending the release of an announcement concerning inside information that pertains to the signing of a letter of intent regarding a possible asset restructuring, which involves a person connected to the company.

Earlier, the company had refuted media reports claiming it planned to sell certain projects in Sydney and the Gold Coast, Australia. The media reports claimed that the Dalian Wanda Group Co. Ltd. conglomerate was in talks to sell the Jewel Gold Coast and Wanda One Sydney developments, worth a combined approximately A$1.90 billion.

As of Aug. 8, US$1 was equivalent to A$1.27.