Dalian Wanda Group Corp, the Chinese company that bought movie chain AMC Entertainment, is planning to list its real estate unit in a Hong Kong initial public offering that could raise between $US5 billion and $US6 billion as soon as the end of this year, people with knowledge of the deal said on Monday.
At that size, the IPO could be the biggest the city has seen since Swiss metals trader Glencore International PLC raised $US10 billion in a Hong Kong-London listing in May 2011, according to Dealogic. Dalian Wanda Commercial Properties could be also the largest real-estate firm ever to list in Hong Kong.
China International Capital Corp and HSBC Holdings PLC have lead underwriting roles on Danlian Wanda Commercial Properties' potential IPO, people familiar with the situation said Monday. Bank of America Merrill Lynch, Goldman Sachs Group Inc. and UBS AG are also involved in the transaction, one of the people said. Dalian Wanda is owned by Chinese billionaire Wang Jianlin. Mr Wang is China's richest man and is a former military officer originally from southwest China's Sichuan province who set up his operations in Dalian, a major city in Liaoning province in the northeast of the country.
Chinese conglomerate seeks to list real estate unit as early as the end of this year.
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