What: A chinese mall management giant is going public in Hong Kong.

Why it is important: This reflects both the need to “normalize” giant companies in China by no longer remaining fully private, as well as the maintained attractivity of Hong Kong for Chinese groups, in spite of the recent comments made by international banks.

Zhudai Wanda Commercial Management Group, part of the Dalian Wanda Group, has filed for a HK IPO listing, looking for a total valuation between USD 3 and USD 4 bn.

The company manages 380 malls in mainland China, 54.2 million share metres with an average occupancy rate of 98.8%. It went through a -8.8 decrease in 2020 due to Covid-19 (representing a loss of USD 172 m).

It is 69.9% owned by Dalian Wanda Commercial Management Group, a Chinese conglomerate.

Chinese Mall Management Giant Files for Hong Kong IPO