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 Street Journal (WSJ) reports that China’s Dalian Wanda Group is looking to raise $1.5bn from domestic Chinese investors for its film unit, valued at ¥35bn ($5.36bn). The report says Wanda’s plan would be to use a combination of debt and equity financing as well as an initial public offering (IPO) on the Shanghai stock exchange.