Property management company owned by China's Wanda attracts pre-IPO investment
- Wanda Light Asset Commercial Management Co, which is tasked with managing 368 existing Wanda Plazas and a further 155 under construction, will seek to make strategic investment and acquisitions with the Zhuhai government following its planned listing, Wanda said in a statement on its website.
- The company aims to list in Hong Kong, according to local media reports and a source with knowledge of the plans.
SHANGHAI: Wanda Group's revamped property management business has secured 3 billion yuan ($457.34 million) of strategic investment from the government of Zhuhai, a city in southern China, ahead of its planned listing, the Chinese developer said on Monday.
Wanda Light Asset Commercial Management Co, which is tasked with managing 368 existing Wanda Plazas and a further 155 under construction, will seek to make strategic investment and acquisitions with the Zhuhai government following its planned listing, Wanda said in a statement on its website.
Last week, Dalian Wanda Commercial Management, the parent of Wanda Light Asset, withdrew an application for a listing in China, saying it would restructure its assets and consider an overseas listing.
The company aims to list in Hong Kong, according to local media reports and a source with knowledge of the plans.