With the ink hardly dry on its $3.5 billion deal for Hollywood filmmaker Legendary Entertainment, Chinese conglomerate Dalian Wanda Group Co. is already shopping a piece to local investors. Wanda Group is seeking to raise $1.5 billion from domestic Chinese investors for Wanda Pictures at a $5.3 billion valuation, according to a document prepared as part of the offering. Wanda Pictures comprises Wanda’s own movie-production business and Legendary Entertainment, which the Chinese conglomerate agreed to buy in January. ...
Following its acquisition of Hollywood company Legendary Entertainment for $ 3.5bn in January , the Wall investment fund ( WSJ ) reports that China ’s Dalian Wanda company is looking to raise $ 1.5bn from domestic Chinese investors for its film unit , valued at ¥ 35bn ( $ 5.36bn ) . According to documents seen by investors , Wanda Pictures is preparing to go public later this year , through an IPO , a backdoor listing or an asset injection into another entity controlled by Wanda .