China’s second-richest man has offered $4.4bn to privatise Hong Kong-listed Dalian Wanda Commercial Properties in a deal that underlines Chinese groups’ efforts to seek better valuations by listing on the mainland.
Dalian Wanda Group, the privately held linchpin of Wang Jianlin’s property-to-Hollywood empire offered HK$52.80 ($6.79) per share to delist its commercial property unit from Hong Kong. The offer comes less than 18 months after it floated the business at HK$48 per share.
The group first raised the prospect of delisting in March and on Monday made a firm offer 10 per cent above the floor it set back then. The offer also represents a 44 per cent premium to the undisturbed price.
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