China Billionaires May Switch their Stock Market Listings from Hong Kong to China
Two of China’s largest developers took steps that moved them closer to potentially switching their stock market listings from Hong Kong to China, where their top executives have said they can get higher valuations.
“Two of China’s largest developers took steps that moved them closer to potentially switching their stock market listings from Hong Kong to China.”
On Monday, Dalian Wanda Commercial Properties Co., controlled by billionaire Wang Jianlin, requested a suspension of its shares pending an announcement pertaining to an exchange code on mergers and takeovers, as Wang pursues a buyout plan that will help him re-list the shares on the mainland.
About Dalian Wanda Group
Dalian Wanda Group was founded in 1988 and is engaged in three key business activities – commercial properties, culture, and finance. In 2015, its assets amounted to 634 billion yuan with revenue of 290.16 billion yuan. Wanda Commercial Properties is the world’s largest real estate enterprise and the biggest five-star hotel owner in the world. Wanda Cultural Industry Group, meanwhile, is the largest cultural enterprise in China, and the world’s largest cinema operator. It is also the world’s biggest sports company. Elsewhere, Wanda Financial Group is the largest internet finance enterprise in China. By 2020, Wanda Group aims to become a world class multinational corporation with assets of $200 billion, market capitalization of $200 billion, revenue of $100 billion and net profits of $10 billion.
Visit: Wanda Group
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