A Shanghai court has ordered the freezing of RMB 1.98 billion ($278.18 million) worth of shares in a unit of Dalian Wanda Group, China’s largest commercial property developer, reports Reuters. The shares frozen were issued by Dalian Wanda Commercial Management Group, the property management arm of Dalian Wanda Group.
According to two court notices dated Monday, the shares worth a total of RMB 1.98 billion were ordered frozen until June 4, 2026, company information system TianYanCha showed. The court orders add to Dalian Wanda Group’s woes. It is facing uncertainty over the timing of a Hong Kong IPO of its unit Zhuhai Wanda, repayments stress and a rating downgrade.
S&P Global downgraded Dalian Wanda Commercial Management Group on Monday to ‘BB’ from ‘BB+’, citing weakening liquidity of its parent.
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