Chinese real estate developer Dalian Wanda Commercial Properties, a unit of billionaire Wang Jianlin's Dalian Wanda Group, has received approval from Chinese regulators to move ahead with an initial public offering in Hong Kong worth up to $6 billion, IFR reported, citing people familiar with the deal.
Consent from the China Securities Regulatory Commission (CSRC) clears the way for Dalian Wanda to seek a green light from the Hong Kong stock exchange later this week for the initial public offering, IFR, a Thomson Reuters publication, reported on Monday.
The listing could be larger than $6 billion if the company decides to sell more shares, IFR reported, citing one of the people familiar with the deal.
A Dalian Wanda executive based in Beijing declined to comment when contacted by Reuters, stating the company is in a quiet period ahead of the IPO.
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