UPDATE 1-China's Wanda Commercial Properties plans up to $6 bln HK IPO-IFR

Fri Sep 5, 2014 7:04am EDT

Related Topics

* Could be biggest IPO since AIA's $20.5 bln deal in 2010

* Listing could happen before the end of the year

* CICC, HSBC hired as sponsors, more bookrunners likely-sources (Adds detail on chairman of Wanda, milestone)

HONG KONG, Sept 5 (Reuters) - Chinese real estate developer Dalian Wanda Commercial Properties, a unit of billionaire Wang Jianlin's Dalian Wanda Group, plans to raise up to $6 billion in a Hong Kong initial public offering this year, IFR reported on Friday, citing sources with direct knowledge of the plans.

The IPO would be the biggest in Hong Kong since AIA Group raised $20.5 billion in 2010, Thomson Reuters data shows. Dalian Wanda Commercial Properties is the parent of Hong Kong-listed Wanda Commercial Properties.

IFR, a Thomson Reuters publication, reported that Dalian Wanda Commercial Properties plans to file an application for the IPO soon and list before the end of the year.

A company spokesman was not immediately available to comment on the report.

Dalian Wanda Commercial Properties had originally planned an IPO in Shanghai, but its listing application lapsed in July after it had waited several years for approval from mainland Chinese regulators, IFR said.

China International Capital Corp and HSBC were hired as sponsors of the IPO, IFR added. The company will add more bookrunners to the deal at a later stage, it added.

Dalian Wanda Group Chairman Wang was ranked by Forbes as China's richest man last year.

The group was founded in 1988 and operates in four major industries - commercial property, luxury hotels, culture and tourism and department stores. In 2013, the group's assets stood at 380 billion yuan ($62 billion), according to its website

($1 = 6.1400 Chinese yuan) (Reporting by Fiona Lau of IFR; and Elzio Barreto; Editing by Miral Fahmy)

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