Wanda Unit Draws 20 Investors in $3 Billion Pre-IPO Round
- Sovereign funds, tech firms are among interested investors
- Wanda Light Asset looks to raise funds before Hong Kong IPO
More than 20 investors have expressed interest in a funding round for Dalian Wanda Group Co.’s commercial property management unit, which could raise about 20 billion yuan ($3.1 billion), according to people familiar with the matter.
Sovereign wealth funds, Chinese technology companies and private equity funds are among those that have shown preliminary interest in the fundraising, said the people, who asked not to be identified as the discussions are private. Wanda Light Asset Commercial Management Co. plans to raise about 2 billion yuan each from some lead investors, while the rest of the investors could chip in around 500 million yuan to 1 billion yuan each, the people said. The funding round could value the unit at about 200 billion yuan, they added.