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Dalian Wanda Group mulls possible privatization, delisting of property unit

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Dalian Wanda Group mulls possible privatization, delisting of property unit

DalianWanda Group Co. Ltd. is considering a possible privatization and delisting of on The Stock Exchange of Hong Kong Ltd.

The propertydeveloper said March 30 that its parent firm and controlling shareholder is in theinitial stage of reviewing a voluntary general offer for Dalian Wanda Commercial'sH shares.

If itproceeds and a formal proposal is made, Dalian Wanda Group plans to offer at leastHK$48 in cash per Dalian Wanda Commercial H share.

BloombergNews reported March 30 that Dalian Wanda Group's potential buyout of all outstandingshares in Dalian Wanda Commercial would be worth an indicative price of HK$31.3billion.

However,the offer price may be reduced to account for any dividends declared per DalianWanda Commercial H share related to regular interim or annual distributions, accordingto the filing.

The Chineseproperty developer's total issued share capital comprised 652,547,600 H shares and3,874,800,000 domestic shares as of March 30. Dalian Wanda Group holds an estimated43.71% stake in the property unit's total issued shares, equivalent to 1,979,000,000domestic shares.

Sincethe preliminary consideration for the plan is ongoing, Dalian Wanda Commercial notedthat there is no certainty that the voluntary general offer, privatization and delistingwill take place.