SHANGHAI: Chinese billionaire Wang Jianlin's Dalian Wanda Group Co is offering HK$34.5bil (US$4.4bil) to buy out its Hong Kong-listed property unit in the biggest take-private deal on the exchange ever, as it seeks a higher valuation for the business on mainland stock exchanges.
Wanda Group will pay HK$52.80 for each Hong Kong-traded share of Dalian Wanda Commercial Properties Co, the company said in a statement yesterday, 10% higher than an earlier offer of at least HK$48 and 3% higher than its last traded price of HK$51.25 before it was halted April 22.