Dalian Wanda IPO wins $2b of cornerstone support

Och-Ziff and Kuwait Investment Authority among those backing the Chinese developer, which is aiming to raise up to $3.86b. Books open on Monday.

Dalian Wanda Commercial Properties has received $2 billion worth of support from 11 cornerstone investors ahead of its Hong Kong initial public offering.

The second largest developer of shopping malls and office buildings in the world aims to raise up to $3.86 billion in a listing, which would make it Hong Kong's largest IPO this year assuming it gets away this month. 

Books open on Monday for the unit of billionaire Wang Jianlin's Dalian Wanda Group, with pricing scheduled for December 15.

On offer are 600 million primary shares between HK$41.80 and HK$49.60 per unit, putting the company's valuation between HK...

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