Wanda closer to $6 bln HK IPO

Real estate developer Dalian Wanda Commercial Properties, a unit of billionaire Wang Jianlin's Dalian Wanda Group, has received approval from Chinese regulators to move ahead with an IPO in Hong Kong worth up to $6 billion, IFR reported Monday, citing people familiar with the deal.

Consent from the China Securities Regulatory Commission (CSRC) clears the way for Dalian Wanda to seek a green light from the Hong Kong stock exchange later this week for the IPO, IFR, a Thomson Reuters publication, reported.

The listing could be larger than $6 billion if the company decides to sell more shares, IFR reported, citing one of the people familiar with the deal.

A Dalian Wanda executive based in Beijing declined to comment when contacted.