Hong Kong ends on high note as Wanda closes $3.7bn debut

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By John Loh
18 Dec 2014

Dalian Wanda Commercial Properties pulled off one last hurrah for Hong Kong’s IPO market this week, raising HK$28.8bn ($3.7bn) in the city’s largest listing for more than three years. The property developer, owned by Chinese billionaire Wang Jianlin, priced its shares on December 16 at HK$48.00, near the top end of guidance, despite niggling fears about China’s cooling property sector, writes John Loh.

The result made Wanda the biggest IPO in Hong Kong since commodity firm Glencore International raised $10.05bn in May 2011, according to Dealogic. Wanda is also the largest real estate listing on record globally, beating Singapore’s Global Logistic Properties’ $3bn float in 2010, and it is the second largest ...

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