Bloomberg quoted people familiar with the matter and revealed that China Dalian Wanda Group is considering selling as many as 20 shopping malls located in Jiangsu, Zhejiang and Shanghai to avoid liquidity tightening.
According to reports, people familiar with the matter said that Wanda has contacted potential investors including insurance companies and asset management companies to discuss some shopping malls in Jiangsu, Zhejiang, and Shanghai.
People familiar with the matter said that Wanda is seeking about 70,000 to 800 million yuan (below, Same, 1.33 to 153 million yuan) for each shopping center, and the specific price depends on their location and businessEssenceAnother person familiar with the matter said that the price of a shopping mall in Shanghai may be as high as 1 billion yuan.
One of the people familiar with the matter also said that the company may also explore other options, including the sale of the shares of the shopping mall.The person familiar with the matter mentioned that Wanda can sell more shopping malls according to the needs of investors.
They added that Wanda is currently in the evaluation stage and may still decide to retain these assets.
If Wanda cannot be successfully listed in Hong Kong by the end of 2023, it will face potential liquidity tightening.
According to a regulatory document, as part of an agreement reached with investors, if Wanda cannot be listed, it must pay about 30 billion yuan of equity repurchase to investors before listing.According to earlier reports of Bloomberg, Wanda is discussing with some debt banks that will not be repaid for domestic loans that have expired this year.
This week, after Wanda said that it was planned to compress individual departments, the market's concerns about the group's debt repayment capacity intensified.People familiar with the matter revealed that Wanda Commercial Management has informed investors who have asked their debt repayment plans that the company will consider repurchase $ 400 million (S $ 539 million) bonds due on July 23.
According to the data compiled by Bloomberg, the group and its subsidiaries have at least $ 1.18 billion in bonds expired before the end of this year.
According to the information of Wanda's official website, as of the end of 2022, the group had a total of 473 shopping malls in China, including 39 in Jiangsu, 21 Zhejiang, and 14 Shanghai.
