Wanda Group's commercial property management unit plans to file a listing application in Hong Kong this month to raise up to US$4 billion (HK$31.2 billion).
Wanda Light Asset Commercial Management has reportedly selected Citic Securities, Credit Suisse and JPMorgan to handle the deal.
The share sale was previously said to attract at least 20 institutional investors, including private equity, technology fund, and sovereign wealth funds.
In March, Dalian Wanda Commercial Management announced it was withdrawing its A-share listing and reorganizing its light asset operation business after halting a five-year pursuit to list its real-estate business on mainland bourses.
Wanda Light Asset Commercial Management was said to be raising 20 billion yuan (HK$24.02 billion) in pre-IPO fundraising with a target valuation of US$30 billion upon the completion of the fundraising.
Meanwhile, NetEase's (9999) music arm Cloud Village is said to be delaying its listing plan in Hong Kong, which is expected to raise around US$1 billion, until market sentiment improves, IFR reported.
Cloud Village said that the management decided to suspend its IPO due to the current overall market environment and other factors, and will resume the share sale at a more opportune time.
The halt came after the company has passed its listing hearing and was conducting a pre-IPO roadshow. NetEase rose 2.58 percent to HK$139.10 yesterday.
Separately, CSOP Global Smart Driving Index Exchange-Traded Fund that tracks the global smart driving-related industry such as the battery, chip, and carmaker, will debut on Thursday, with a minimum investment of HK$780. The annual management fee is around 0.99 percent and the ongoing charges over a year is expected to stand at 1.5 percent.
Another company seeking a Hong Kong listing is Tencent (0700)-backed mainland healthcare management platform ThinkGeek Network Technology, which has filed an application to the stock exchange.
Meanwhile, We Doctor, which is also backed by Tencent, is fielding queries about its data governance from Hong Kong Exchanges and Clearing (0388) as the Chinese health-care startup pursues an initial public offering in the city.
The bourse operator is asking for assurances from the company that its data handling practices comply with China's rules.
The company has been in talks with China's cybersecurity watchdog about its data and is working to provide a written record of the discussion to prove it is in compliance with the rules.
We Doctor had been looking to raise as much as US$3 billion in its IPO, which would make it one of the biggest first-time share sales in the city this year.
Wanda's commercial property management unit has selected Citic Securities, Credit Suisse and JPMorgan to handle the deal. REUTERS
