Wanda Commercial plans $3.8b HK IPO

HONG KONG, Dec 08 (AFP): Dalian Wanda Commercial Properties Co., controlled by Chinese billionaire Wang Jianlin, plans to raise up to $3.8 billion in what would be Hong Kong's biggest listing this year, financial media reported Monday.

The Chinese shopping mall developer plans to sell 600 million shares for between HK$41.80 to HK$49.60 (US$5.39 to $6.40) each, Dow Jones Newswires reported, citing a person familiar with the matter.

That would put the company's valuation at between HK$161 billion and HK$191.5 billion, or US$20.8 billion to $24.7 billion.