Wanda’s Wang Jianlin: Hong Kong listed property unit must be privatised

Billionaire Wang Jianlin, chairman of Dalian Wanda Group, spoke publicly over the weekend for the first time about the ongoing privatisation of his Hong Kong listed property arm.

In an interview with Chinese state-run CCTV on Sunday, Wang said Dalian Wanda Commercial Properties “must be taken private,” as its undervaluation in Hong Kong market makes Wang “feel sorry” to shareholders and investors.

“I’ve been in many industries and made many investments, many of them made with my friends, we’ve made a lot of money for every deal, except for this one,” Wang said.

Wanda Commercial’s Hong Kong shares have been suspended since April 25, pending disclosure of the price and timetable of its potential more than HK$30 billion general offer.

Wang added that the reason he doesn’t take money from his own pocket for the buyout was to avoid excessive concentration of ownership.