Dalian Wanda Commerical Properties 3699

Re: Dalian Wanda Commerical Properties 3699

Postby winston » Mon May 30, 2016 2:30 pm

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<Resumption Ann>WANDA COMM Parent Raises Offer Price by 10% to $52.8

WANDA COMM (03699.HK) announced that Dalian Wanda Group, the controlling shareholder of the company, proposed a general offer at a total consideration of about HK$34.455 billion, as well as withdrawal of listing of H shares.

The company applied for a trading resumption in H shares with effect from 1:00 p.m. on Monday (30 May).

The offer price of HK$52.8 per share represents a premium of approximately 44.5% over the closing price on 29 March 2016, or about 10% premium over the initial reference price.

The joint offerors will not increase the offer price.

Given that all the domestic shareholders have entered into the domestic shareholder irrevocable undertakings, no comparable offer will be made to domestic shareholders and consequently, the joint offerors have applied to the executive for a waiver from the requirements of the Takeovers Code.

Source: AAStocks Financial News
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Re: Dalian Wanda Commerical Properties 3699

Postby winston » Mon May 30, 2016 2:38 pm

Wang Jianlin: Plans to Build 20 Wanda City in China & Overseas by 2020

Earlier, Nanchang Wanda City was officially opened. During the opening speech, Wang Jianlin, the chairman of Wanda Group, said Nanchang Wanda City is the first Wanda City the Wanda Group launches, and can accommodate 30,000 tourists.

He expected that annual tourist reception will exceed 10 million and create 20,000 job opportunities.

He said 5 more Wanda City will be opened in the coming 3 years, and by 2020, he plans to construct 15 Wanda City in China and 5 overseas.

The Nanchang Wanda City has an area of 200 hectares; total constructed area of 800,000 sq.m., and involved an investment amount of RMB22 billion.

Source: AAStocks Financial News
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Re: Dalian Wanda Commerical Properties 3699

Postby winston » Mon May 30, 2016 2:39 pm

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May 23, 2016

Wang Jianlin: Considers Privatizing WANDA COMM, Mainly Due to Undervaluation

In a CCTV programme, Wanda Group chairman Wang Jianlin said the reason to privatize WANDA COMM (03699.HK) after only listing for 15 months is that the value of the company is very much undervalued, and he cannot bear the fact that the market valuation is lower than the net asset of the company, mainland press reported.

He said he aims to make Shanghai Disney Resort not to make profit in 10-20 years, saying that the Disneyland is but an outdoor resort subject to weather constraint.

He added with the high construction price of US$5.5 billion, the resort can only set a high entrance fee, causing loss of customers.

Source: AAStocks Financial News
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Re: Dalian Wanda Commerical Properties 3699

Postby winston » Mon May 30, 2016 2:49 pm

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Dalian Wanda makes $4.4 billion offer to take Hong Kong-listed property arm private

HONG KONG (Reuters) - China's Dalian Wanda Group, owned by tycoon Wang Jianlin, is offering HK$34.45 billion ($4.4 billion) in cash to buy out Hong Kong-listed unit Dalian Wanda Commercial Properties <3699.HK>, taking it private before it relists in Shanghai.

The company is planning to delist just 15 months after its stock market debut, unhappy with its share performance and preferring to place its bets on an upcoming Shanghai listing where it believes it will get better valuations.

The HK$52.80 per share offer represents a 44.5 percent premium to the unit's closing price on March 29, the day before the company first announced its intention to delist and a 5.6 percent premium to its last traded price.

Source: Reuters
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Re: Dalian Wanda Commerical Properties 3699

Postby winston » Tue May 31, 2016 6:26 am

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Wanda offers premium in $34b privatize bid

China's Dalian Wanda Group is offering HK$34.32 billion in cash to buy out locally-listed unit Dalian Wanda Commercial Properties (3699) and take it private before relisting it in Shanghai where it hopes to gain better valuations.

Mainland-listed firms typically command higher valuations than those in Hong Kong, helped by a large pool of retail investors. An index tracking dual- listed companies shows mainland listings trade at an average 34 percent premium to their Hong Kong-listed peers.

The move comes just 15 months after Wanda Commercial's market debut. The group, led by tycoon Wang Jianlin, has set up a special purpose vehicle to buy all the Hong Kong-listed shares of the property unit.

Investors in the special purpose vehicle will receive up to 12 percent annual interest on their holdings if the property arm fails to relist in China within two years.

The HK$52.80 per share offer represents a 10-percent premium to Wanda Commercial's IPO price and values China's biggest commercial property developer at about HK$241.8 billion.

The offer also marks a 44.5-percent premium to the unit's closing price on March 29.

But the stock, which only just resumed trade after a one-month suspension, fell 2.6 percent yesterday to HK$48.70. Dalian Wanda said it would not increase its offer price.

A document to investors showed Wanda Commercial's shares were valued at an estimated 8.6 times earnings in 2016, much lower than an average of 29.1 times for commercial property developers listed on China's domestic A-shares market.

The company may seek a backdoor listing on the Shanghai exchange if it fails to get regulatory approval for a planned listing there soon, sources said.

Source: REUTERS
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Re: Dalian Wanda Commerical Properties 3699

Postby winston » Wed Jun 29, 2016 1:19 pm

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WANDA COMM Once Plunges Over 5%; Parentco Introduces Consortium as New Investors for Privatization

Wanda Group introduced consortium as new investors for the privatization of WANDA COMM (03699.HK).

Shares in WANDA COMM breached below 250-day MA ($48.58), with a decline up to 5.6% to the trough of $46.35.

It last stood at $47.1, down 4.1%, being the biggest faller of HSCEI constituent, on increasing volume to 4.16 million shares.

Source: AAStocks Financial News
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Re: Dalian Wanda Commerical Properties 3699

Postby winston » Fri Jul 01, 2016 7:33 am

Wanda Hong Kong buyout faces hurdles

Billionaire Wang Jianlin is facing hurdles in his buyout bid for Dalian Wanda Commercial Properties Co., which could be the biggest privatization Hong Kong’s ever seen, after $460 billion Dutch fund, APG Groep, said the offer is too low.

APG hasn’t made a decision on which way it will vote on the $4.4 billion transaction, she said.

Still, APG would make a profit from the deal if it sold out because it bought into the stock during its 2014 initial public offering.

By contrast, BlackRock Inc. built up most of its holdings in Wanda Commercial in the second quarter of last year, when the stock peaked at HK$78, and stands to lose about HK$235 million ($30 million) if Wang’s HK$52.80-a-share offer goes through, according to data compiled by Bloomberg.

Source: China Economic Review
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China - Market Direction 03 (Aug 16 - Dec 17)

Postby behappyalways » Tue Jul 18, 2017 11:55 am

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Re: Dalian Wanda Commerical Properties 3699

Postby behappyalways » Thu Jul 20, 2017 12:40 pm

Wanda's $9.4 Billion Deal Gets a Late Twist
https://www.bloomberg.com/news/articles ... ing-in-r-f
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Re: Dalian Wanda Commerical Properties 3699

Postby behappyalways » Fri Jul 21, 2017 11:29 am

Chinese billionaire battles talk of trouble at real estate empire
http://money.cnn.com/2017/07/20/investi ... plead-intl
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