Wanda Commercial Management Group has made progress toward listing in Hong Kong. On June 28, subsidiary Zhuhai Wanda Commercial Management submitted a fourth prospectus with sponsors including CITIC Securities, J.P. Morgan, and Credit Suisse.
Zhuhai Wanda's third prospectus became invalid this April when the company said its listing process would not be affected, and has now updated and resubmitted the material.
Another subsidiary, this time in Dalian, has had its registration process for issuing corporate bonds suspended but has initiated another IPO on the HKEX.
Zhuhai Wanda manages 472 malls with a total floor area of 65.6 million square meters. It accrued revenue of 27 billion yuan in 2022, and a net profit of 7.5 billion yuan.
The success of Zhuhai Wanda Commercial is crucial to the group's future. Failure to list would result in significant financial obligations, including a 30-billion-yuan share buyback and repayment of at least US$ 1.3 billion in overseas syndicated loans. The progress of its listing in Hong Kong will be closely watched by the capital market.
