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      Wanda gets IPO approval

      2014-12-02 13:17 Global Times/Agencies Web Editor: Qin Dexing
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      Chinese developer Dalian Wanda Commercial Properties Co has won approval from Hong Kong's stock exchange for an IPO, which could be worth up to $6 billion, Reuters reported Monday, citing an unnamed source.

      The world's second-largest developer of shopping malls and office buildings plans to use most of the proceeds from the IPO - which would be the largest new listing in Asia, excluding Japan, in four years - to fund 10 projects in China as it seeks to exploit increasing urbanization.

      The company received the go-ahead on Monday from the listing committee of the exchange, said the source. It will start gauging investors' interest for the IPO from Wednesday, with a roadshow starting on December 8, the source said.

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