Deals
Wanda Delays $1.5 Billion Private-Share Sale
- Internet unit fundraising said to be delayed until next year
- Group has been facing scrutiny from Chinese government
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Dalian Wanda Group Co. delayed a 10-billion-yuan ($1.5 billion) share-sale plan for its internet unit amid mounting scrutiny from the Chinese government, a person familiar with the matter said.
The series A fundraising, an early round of investment, for closely held Wanda Internet Technology Group will be pushed back until at least early next year, the person said, asking not to be identified discussing private information. Billionaire Chairman Wang Jianlin said in January that the business would begin raising funds during the third quarter.