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Chinese Dalian Wanda to raise $3.84 billion by offering 600 million new shares

Chinese Dalian Wanda to raise $3.84 billion by offering 600 million new shares

HONG KONG: Chinese Dalian Wanda Commercial Properties Company Limited will likely to price its Hong Kong initial public offering (IPO) in the upper half of expectations.
Chinese billionaire Wang Jianlin has offered 600 million new shares in the IPO, in an indicative range of HK$41.80-HK$49.60 each. At the top of expectations, Dalian Wanda would raise HK$29.8 billion ($3.84 billion).
Further investment banks will typically send messages to fund managers during the bookbuilding process of an IPO to inform them how the process is coming along and whether investors have to adjust their bids to increase their chances of getting allocation on deals.