Dalian Wanda shareholders approve take-private

Victory for Chinese tycoon Wang Jianlin as shareholders give him green light to take commercial property unit off Hong Kong bourse before relisting on the mainland.

Chinese billionaire Wang Jianlin's plan to relist his property empire on the mainland has cleared its biggest hurdle, with shareholders in Hong Kong-listed Dalian Wanda Commercial Properties approving Wang's application to delist.

Wang believes he can secure a higher valuation for the shopping mall developer in the domestic market, after disappointing trading and mediocre share performance since the December 2014 Hong Kong IPO. The delisting will be a blow to the Hong Kong bourse, costing it one of its biggest and most liquid stocks and potentially kicking off a wave of similar delistings.

Ahead of a shareholder meeting on Monday, the...

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