Date
14 December 2017
Dalian Wanda has links with internationally renowned actress Zhang Ziyi and mother Li Zhousheng. Photos: Baidu, Xinhua
Dalian Wanda has links with internationally renowned actress Zhang Ziyi and mother Li Zhousheng. Photos: Baidu, Xinhua

Zhang Ziyi lends star power to Dalian Wanda IPO

Internationally renowed Chinese actress Zhang Ziyi appears to have lent her star power to Dalian Wanda Commercial Properties Co. Ltd. as the mainland property developer prepares for its initial public offering in Hong Kong later this year.

Zhang’s mother Li Zhousheng has been revealed to be a shareholder of the company, holding 0.46 percent of its shares, the Hong Kong Economic Journal reported on Thursday, citing a report from mainland magazine Jiemian.

Li, a 66-year-old retired nursery school teacher, was said to have bought nine million shares of the company in December 2008, and is set to boost her holding to 18 million shares once the developer issues extra shares for its listing plan.

Dalian Wanda expects to raise as much as HK$46.8 billion (US$6.04 billion) in its IPO, valuing the company at HK$468 billion, the report said. At that value, Li’s stake will be worth HK$2.15 billion.

Zhang, who gained international fame for her leading roles in such mega hits as Crouching Tiger, Hidden Dragon and Memoirs of a Geisha, is related to Wanda in other ways.

She was involved in the launch of the Qingdao Performing Arts Center as well as a movie funded by China Wallink Holding Group chairman Ding Mingshan, another shareholder of the developer.

Ding, 57, is said to hold a 0.56 percent stake in Dalian Wanda. His conglomerate, engaged in real estate, tourism, hotel chain and healthcare, has signed up Zhang as an endorser, reportedly paying her 100 million yuan (US$16.29 million) for a five-year contract.

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