Wanda Group'S Nine Years Tortuous Listing

As China's largest and second largest commercial real estate owner and operator in the world, Wanda's commercial real estate listing has been going on for 9 years.

Unlike Vanke, as early as the early 90s of last century, the mainland stock market just went to the capital market when it was just pilot, and missed the wave that began in 2006 and gained a growth premium. However, Wanda Commercial real estate was still in the top three ranks of the 2013 real estate sales list with the sales volume of 130 billion 110 million yuan under the heavy assets operation.

Wanda Commercial real estate listing can be traced back to 2005.

In 2000, after many rounds of exploration, Wanda Group finally established the road of commercial real estate, but it was still in the initial mode of selling shops until 2003. Until 2004, through the project of Ningbo, Wanda Group finally established the commercial concept of complex.

Wanda Commercial real estate is ready to go public in 2005. Wang Jianlin, chairman of Wanda Group, described the history to reporters. "There was a chance to be listed in Hongkong's red chips, but it was fooled by REITs by Macquarie". "Macquarie came to a boss and said that the good thing to do REITs is that you can control the company with very little funds. REITs is not a real company entity. It needs a management company to manage the fund. The management company has very little registered capital, and the financing is never restricted, so long as the property is built, it can be loaded into it, and you can get the money back, equal to two hands."

Wang Jianlin, who feels that "this is reliable", set up a company to install 9 Wanda Plaza, but only REITs and Singapore in Asia at that time. Hongkong is ready to open REITs, but the first REITs must be Hongkong enterprise.

A year later, the Hongkong exchange fund was listed, but Wanda

It was written in number ten.

In 2006, the Ministry of Commerce issued the regulations on mergers and acquisitions of domestic enterprises by foreign investors (commonly known as "No. ten"), and prohibit private enterprises from going through the red chip mode, including Wanda Commercial real estate.

。

Thereafter,

Commercial real estate has been preparing IPO for many times.

It was not until April 2013 that Wanda Group invested 540 million yuan to become the largest shareholder of Hengli real estate, and realized its listing in Hongkong, and renamed it as Wanda Commercial real estate. In August this year, it was renamed Wanda Hotel Development Co., Ltd. (hereinafter referred to as "Wanda Hotel"), and it became a platform for Wanda's own brand hotels to invest and operate overseas.

Wanda Commercial real estate now owns 65.04% of Wanda Hotel, which includes assets such as the Guilin Wanda Plaza project, the Madrid project in Spain, the London project in the United Kingdom and the Chicago project in the United States.

As a Affiliated Companies, Wanda hotel is also part of the listed assets.

"Now (Wanda Hotel) is a listed subsidiary of Wanda Commercial real estate. Its location is the investment and development platform of Wanda overseas hotel. All its businesses are under Wanda Commercial real estate, and there is no coincidence between the two businesses."

Liu Zhaohui, Secretary of Wanda Commercial Real Estate Board, said.

In Wanda Commercial Real Estate sprint IPO shares, Wanda cinema is also promoting the listing process of A shares.

According to the latest news, the first audit of Wanda cinema has been issued by the trial committee recently. According to the current distribution process, the issue can be obtained in the fastest 1 months, and A shares will be landed by the end of this year.