男友太凶猛1v1高h,大地资源在线资源免费观看 ,人妻少妇精品视频二区,极度sm残忍bdsm变态

US EUROPE AFRICA ASIA 中文
Business / Companies

Wanda Commercial says major shareholder China Life in favor of its delisting plan

(Agencies) Updated: 2016-07-26 09:09

Wanda Commercial says major shareholder China Life in favor of its delisting plan

The company logo of Dalian Wanda Commercial Properties Co Ltd is displayed at a news conference on the company's annual results in Hong Kong, China, March 24, 2016. [Photo/Agencies]

China's Dalian Wanda Commercial Properties Co Ltd said on Monday one of its largest shareholders intends to approve the developer's Hong Kong delisting proposal, as it aims to dispel uncertainty over whether the proposal can gain sufficient votes.

In a stock exchange filing, Wanda Commercial said China Life Insurance Co Ltd - which owns around 7.4 percent of its Hong Kong shares - has sent a letter of intent favoring the delisting.

China Life is joint largest shareholder of the developer's Hong Kong shares, along with the Kuwait Investment Authority.

Wanda Commercial will seek shareholder approval on Aug 15 for its plan to delist, after parent Dalian Wanda Group - owned by China's richest man, Wang Jianlin - offered $4.4 billion in cash to take the developer private before relisting it in China in the hope of better valuations.

To gain approval, the proposal needs at least 75 percent of shareholder votes in favor, and no more than 10 percent of shareholders voting against it.

Analysts have questioned whether some investors such as BlackRock Inc - which is estimated to have accumulated almost 7 percent of Wanda Commercial stock at an average price of HK$52.44 - would be willing to vote in favor.

Timing Investment, a cornerstone investor holding around 2.5 percent, told Reuters last month it would approve the plan though the offer price is below the expected 15 percent premium to the firm's initial public offering (IPO) price.

"It's not as good as expected, but we need to approve. If the buyout gets blocked, Wanda won't be able to propose taking it private again for a year, and the share price will once again be on a downtrend," Timing's Chairman Jiang Ming said.

Dalian Wanda's buyout offer is HK$52.8, 10 percent higher than the IPO price of HK$48. Shares of Wanda Commercial closed down 0.5 percent at HK$47.55 on Monday, reflecting investor concern that the deal may not go through.

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 连城县| 麻栗坡县| 保亭| 绥滨县| 乾安县| 江源县| 丰都县| 鹤山市| 岳普湖县| 莱州市| 安多县| 鸡东县| 永安市| 修文县| 朝阳县| 赤水市| 万全县| 桑植县| 北京市| 新化县| 高雄市| 大冶市| 丰台区| 慈溪市| 临高县| 沧州市| 通化县| 中江县| 伊宁县| 吉安市| 南昌县| 富阳市| 密云县| 平江县| 新绛县| 达州市| 望江县| 商南县| 乐安县| 祁连县| 沈阳市|