28th September 2023 – (Beijing) According to Bloomberg News, Dalian Wanda Group, a prominent Chinese conglomerate, has initiated negotiations regarding a proposal that could exempt the company from repaying approximately 30 billion yuan ($4.11 billion) to investors in its shopping mall business, in the event that the unit fails to complete its planned initial public offering (IPO) this year.
Sources familiar with the matter revealed that the conglomerate recently informed investors that the IPO for its mall unit is likely to be postponed until next year. This disclosure comes as Dalian Wanda Group explores alternatives to fulfill its financial obligations to investors, should the IPO not proceed as originally anticipated.
