Date
17 October 2017
Chairman Wang Jianlin is reshaping Wanda Group into a conglomerate spanning real estate,  travel and culture, financial services, retail and electronic commerce. Photo: Bloomberg
Chairman Wang Jianlin is reshaping Wanda Group into a conglomerate spanning real estate, travel and culture, financial services, retail and electronic commerce. Photo: Bloomberg

Wanda to float two units this year

Dalian Wanda Group Co. Ltd. is planning to list one to two major subsidiaries this year, news website caijing.com.cn reported Thursday.

The real estate giant will establish a new financial investment group with registered capital of at least 10 billion yuan (US$1.29 billion) by the third quarter. Also, it is in the process of creating a financial company capitalized at 30 billion yuan, the report said.

Chairman Wang Jianlin is planning other investments in the financial sector and making forays into the electronic commerce market, with a view to achieving profit within three years.

Wang is tapping leading e-commerce investors for 5 billion yuan for the new ventures.

If all goes well, Wanda could become a conglomerate spanning real estate, culture and travel, financial services, retail and electronic commerce, the report said.

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