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Wanda group launches roadshow

Reporter: Cathy Yang 丨 CCTV.com

12-09-2014 00:24 BJT

It’s the season of IPO roadshows again in Hong Kong. Not one but two Mainland companies -- BAIC Motor and Wanda -- made their separate pitches to potential investors in the same hotel.

It’s getting to be a bit of a crowd here at the JW Marriott in Admiralty for the Wanda IPO roadshow. The Chinese property giant is preparing to raise six billion Hong Kong dollars this month, and company officials are betting that it can take on Disney and Six Flags offering Mainlanders a better time in its theme parks across China.

Media attention was clearly focused on Wanda with its expanding global profile, built by Wang Jianlin, one of China’s wealthiest. Mr. Wang showed up for a bit of a photo call with media, before he was swiftly whisked away into a packed ballroom where the presentation was being held. In attendance were representatives from global lenders HSBC to Mainland-based Bank of Communications. One of those privy to what went on behind closed doors was Ronald Wan, Chief China Advisor of Asian Capital Holdings.

"Wanda just a week ago grabbed global headlines Mr Wang said he wanted to buy a stake in Lions Gate Entertainment, the Hollywood film studio which makes The Hunger Games franchise," Ronald Wan said.

On the Mainland, Wanda is hoping to take on Disney and Six Flags as it sets up more than a dozen amusement parks, going head to head with the planned big launches by Western rivals. Wanda’s prospects though would depend largely on China’s economic outlook, says Sam Chi Yung of Delta Asia Securities.

Wanda’s fundraising plans though are firmly in place, adding yet to the already-frenzied seasonal year-end rush of IPO listings. 

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