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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