Wanda Cinema IPO Blocked by China Regulators, Report

Wanda Qingdao Oriental Movie Metropolis

Company is China's largest theater chain and linked to AMC in North America.

HONG KONG — The imminent flotation of Wanda Cinema Line, China’s largest cinema chain, has been suspended after the country’s securities regulator blocked the IPO application.

According to the Securities Times newspaper the China Securities Regulatory Commission, said that Wanda had presented insufficient information in its application.

The private sector property giant, Dalian Wanda, run by China’s richest man Wang Jianlin, had sought to raise some $360 million through a stock listing and share sale of the cinemas unit on the Shenzhen Stock Exchange. It had been allocated the stock ID 0562662:CH.

It is unclear whether Wanda group will now refile its application with more detail within China, or will seek a listing elsewhere — it has previously indicated Hong Kong and New York as listing possibilities — or shelve the idea.

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