You will be redirected back to your article in seconds

China’s Wanda Pictures Raises $2.4 Billion (Report)

China’s Dalian Wanda is reported to have raised $2.4 billion (RMB15.9 billion) for its film unit, Wanda Pictures.

According to a report by Bloomberg, group VP Liu Zhaohui held a briefing for financiers in Hong Kong on Thursday and said that the offering, which had sought $1.5 billion was oversubscribed.

Wanda is busily restructuring and scaling up its entertainment assets, though it is not currently clear how the organizational chart will finish up.

Chairman Wang Jianlin has publicly said that he was seeking one — or two — IPOs for the company’s film distribution and production arms. But now it appears that Wanda is able to raise the finance through private placings and may be able to avoid a new share listing.

Wanda Cinema Line, the groups already-listed theaters chain, is expected to absorb Wanda Pictures, the unit that will include the recently acquired Legendary Entertainment. Wanda Cinema Line shares have been suspended since the end of February and the group has said that the stock could remain suspended until April – albeit with updates made to the market every week.

Wanda Cinema posted a regulatory filing Wednesday and added no new information.

More Biz

  • US Capitol

    Music Modernization Act Unanimously Passes House of Representatives

    China’s Dalian Wanda is reported to have raised $2.4 billion (RMB15.9 billion) for its film unit, Wanda Pictures. According to a report by Bloomberg, group VP Liu Zhaohui held a briefing for financiers in Hong Kong on Thursday and said that the offering, which had sought $1.5 billion was oversubscribed. Wanda is busily restructuring and […]

  • Directv Now

    AT&T Misses Q1 Targets, as DirecTV Now Streaming Service Hits 1.46 Million Subscribers

    China’s Dalian Wanda is reported to have raised $2.4 billion (RMB15.9 billion) for its film unit, Wanda Pictures. According to a report by Bloomberg, group VP Liu Zhaohui held a briefing for financiers in Hong Kong on Thursday and said that the offering, which had sought $1.5 billion was oversubscribed. Wanda is busily restructuring and […]

  • Russell Simmons

    Russell Simmons Rape Accuser Drops $5 Million Suit

    China’s Dalian Wanda is reported to have raised $2.4 billion (RMB15.9 billion) for its film unit, Wanda Pictures. According to a report by Bloomberg, group VP Liu Zhaohui held a briefing for financiers in Hong Kong on Thursday and said that the offering, which had sought $1.5 billion was oversubscribed. Wanda is busily restructuring and […]

  • Universal Music Group

    Empire Strikes Global Distribution-Services Deal With Universal Music Group

    China’s Dalian Wanda is reported to have raised $2.4 billion (RMB15.9 billion) for its film unit, Wanda Pictures. According to a report by Bloomberg, group VP Liu Zhaohui held a briefing for financiers in Hong Kong on Thursday and said that the offering, which had sought $1.5 billion was oversubscribed. Wanda is busily restructuring and […]

  • A Quiet Place BTS

    Viacom CEO Talks Paramount Turnaround, TV Production Growth But Stays Mum on CBS Talks

    China’s Dalian Wanda is reported to have raised $2.4 billion (RMB15.9 billion) for its film unit, Wanda Pictures. According to a report by Bloomberg, group VP Liu Zhaohui held a briefing for financiers in Hong Kong on Thursday and said that the offering, which had sought $1.5 billion was oversubscribed. Wanda is busily restructuring and […]

  • Branded Game Events, Escape Rooms Scale

    Immersive, Branded Game Content Scales Up With New Merger

    China’s Dalian Wanda is reported to have raised $2.4 billion (RMB15.9 billion) for its film unit, Wanda Pictures. According to a report by Bloomberg, group VP Liu Zhaohui held a briefing for financiers in Hong Kong on Thursday and said that the offering, which had sought $1.5 billion was oversubscribed. Wanda is busily restructuring and […]

  • Bill Cosby arrives for his sexual

    Jury Deliberates Bill Cosby's Sexual Assault Retrial

    China’s Dalian Wanda is reported to have raised $2.4 billion (RMB15.9 billion) for its film unit, Wanda Pictures. According to a report by Bloomberg, group VP Liu Zhaohui held a briefing for financiers in Hong Kong on Thursday and said that the offering, which had sought $1.5 billion was oversubscribed. Wanda is busily restructuring and […]

More From Our Brands

Access exclusive content