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Wanda planning to raise up to 3.9 bln US dollars

Reporter: Cathy Yang 丨 CCTV.com

12-09-2014 11:44 BJT

China property giant Wanda kicked off its IPO roadshow Monday in Hong Kong in preparation for its listing this month. 

It’s the season of IPO roadshows again in Hong Kong. Not one but two Mainland companies - Beijing Automotive 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. 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.

"So far the roadshow has not changed their perception of the company. I think whether they will invest in the company still depends on the overall market sentiment," says Ronald Wan, chief China advisor of Asian Capital Holdings.

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

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.

"Overall if the PBOC keeps cutting the interest rate as well as the reserve requirement, that may benefit the whole Chinese property industry," says Sam Chi Yung, strategist 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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