Tag Archives: Dalian Wanda

LEISURE: Wanda Ups Carmike Bid, Gets Boost from China Life

Bottom line: Wanda may need to raise its offer price again to buy Carmike, while a plan to privatize its property unit stands a good chance of winning shareholder approval.

Wanda ups Carmike bid

Conglomerate Wanda Group is in a couple of a major headlines, one involving its traditional real estate business and the other for the newer entertainment unit it’s building up as part of a diversification drive. The real estate headline centers on Hong Kong-listed property developer Dalian Wanda (HKEx: 3699), which has just received an endorsement from a major shareholder in its bid to go private. The second item centers on Wanda’s fast-growing cinema business, and has the company boosting its offer for US theater operator Carmike (Nasdaq: CKEC) after minority stakeholders complained a previous bid was too low. Read Full Post…

BUYOUTS: Wanda’s Offer, eLong’s Exit, Yongle’s Backdoor

Bottom line: Dalian Wanda’s de-listing plan from Hong Kong is likely to succeed, while eLong could re-list in China and become the travel services provider for WeChat following its New York privatization.

Dalian Wanda joins homeward migration

A trio of new headlines are part of the recent homeward migration of offshore-listed Chinese companies, led by a highly anticipated $4.4 billion offer to privatize property giant Dalian Wanda (HKEx: 3699). Also making news is faded online travel agent eLong (Nasdaq: LONG), whose shareholders have just approved a privatization that will soon end its 12-year-old listing in New York. Finally there’s film production house Yongle Film and Television, which would have been a strong New York IPO candidate in a earlier era but is now in the process of making a backdoor listing in Shenzhen. Read Full Post…

BUYOUTS: Wanda Wavers, Qihoo Hits Currency Snag

Bottom line: Qihoo’s privatization from New York is likely to move ahead after it resolves a temporary impasse with the foreign exchange regulator, while Wanda’s privatization is also likely to proceed on its belief it can make a quick backdoor re-listing in China.

Qihoo shares fall on latest buyout obstacle

New ripples are spilling through the realm of Chinese companies seeking to return to China after getting lukewarm receptions with offshore listings, reflecting the complexity and difficulty of such deals. Two of the largest such deals are in the headlines as we round out the week, led by word that a privatization plan by software security specialist Qihoo 360 (NYSE: QIHU) may be running into trouble due to China’s strict foreign exchange controls.  The other major deal has real estate giant Dalian Wanda (HKEx: 3699) reportedly moving ahead with a plan to privatize the company, after indicating earlier this week it might abandon its original plan.

It’s becoming quite a challenge to write about this so-called “homecoming trend” by Chinese firms these past 2 weeks, since new obstacles seem to be popping up almost daily on this road back to China. The process was never an easy one, and involves raising hundreds of millions or sometimes even billions of dollars to take a company private. Then the buyout groups, usually led by company managers, must convince New York or Hong Kong shareholders to sell their stock, often at modest premiums. Read Full Post…

BUYOUTS: Youku Bids Adieu to NY, Wanda Properties Eyes HK Exit

Bottom line: A flurry of new de-listing activity shows that well-funded privatizations will continue despite market volatility in China, and could also spread to undervalued private companies listed in Hong Kong.

Wanda Commercial Properties eyes buyout

The headlines are brimming with new moves in the buyout wave that has swept over off-shore listed Chinese stocks, which are privatizing in droves due to disappointing valuations. Leading the news are 2 former high-flyers, online video site Youku Tudou (NYSE: YOKU), which has formally completed its buyout by e-commerce giant Alibaba (NYSE: BABA); and property giant Wanda Commercial Properties (HKEx: 3699), which has announced it is exploring a potential buyout less than 2 years after its Hong Kong IPO.

That pair are joined by 2 smaller stories involving ongoing privatizations by budget hotel operator Homeinns (Nasdaq: HMIN) and the shriveling Ku6 Media (Nasdaq: KUTV). Media are saying that Homeinns has already lined up a Chinese listing vehicle to resume its life as a publicly traded company after it de-lists from New York. And Ku6 has announced it has formally signed a buyout agreement that will result in its own de-listing. Read Full Post…

News Digest: January 6, 2016

The following press releases and media reports about Chinese companies were carried on January 6. To view a full article or story, click on the link next to the headline.
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  • Dalian Wanda Clinches Deal for Legendary Entertainment – Source (English article)
  • Faraday Unveils Concept Electric Race Car with LeTV (Shenzhen: 300104) (English article)
  • Commerce Ministry Asks More Questions in Microsoft (Nasdaq: MSFT) Anti-Trust Probe (Chinese article)
  • New Huawei Mate 8 Smartphone Sells More Than 1 Mln Units in Less Than a Month (Chinese article)
  • Air China, China Eastern Join Airlines Parting With Qunar (Nasdaq: QUNR) (Chinese article)

News Digest: August 28, 2015

The following press releases and media reports about Chinese companies were carried on August 28. To view a full article or story, click on the link next to the headline.
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  • Chinese Banking Giants: Zero Profit Growth as Bad Loans Pile Up (English article)
  • Motorola to Lead Lenovo (HKEx: 992) Mobile Unit in New Overhaul (Chinese article)
  • Cinda (HKEx: 1359) Only Bidder for BOC (HKEx: 3988) Bank Unit with $8.8 Bln Price (English article)
  • Dalian Wanda Buys Ironman Triathlon Owner for $650 Mln (English article)
  • Uber China Unit Wins $1 Bln in New Funding – Source (Chinese article)
  • Latest calendar for Q2 earnings reports (Earnings calendar)

IPOs: Postal Bank Eyes Mega-Listing, 55Tuan Delays

Bottom line: A mega IPO by Postal Savings Bank next year is likely to attract little or no interest from private investors, while an upcoming IPO by 55Tuan could do slightly better but will still get only a lukewarm reception.

55Tun misses pricing target date

A couple of unattractive IPOs are in the headlines as China gets back to work after the Lunar New Year holiday, led by a massive plan by China’s Postal Savings Bank to raise up to $25 billion as soon as next year. While that plan may be a year or more away, a more advanced listing by group-buying site 55Tuan has failed to price its shares by a previously announced target date, leading some to speculate that the deal is running into trouble. Neither of these deals looks very exciting to me, and I suspect they won’t attract much interest from private investors either. Read Full Post…

News Digest: February 11, 2015

The following press releases and media reports about Chinese companies were carried on February 11. To view a full article or story, click on the link next to the headline.
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  • Dalian Wanda To Buy Swiss Sports Firm For $1.2 Bln Amid Entertainment Push (English article)
  • Tesla (Nasdaq: TSLA) CEO Threatens Firings After Dismal China Sales – Sources (English article)
  • Yanjing Brewery (Shenzhen: 000729) Seeks Foreign Buyer For Strategic 20 Pct Stake (English article)
  • NetEase (Nasdaq: NTES) Reports Q4 and Fiscal Year 2014 Unaudited Results (PRNewswire)
  • Phoenix New Media (NYSE: FENG) Increases Strategic Investment In Yidian (PRNewswire)

News Digest: January 22, 2015

The following press releases and media reports about Chinese companies were carried on January 22. To view a full article or story, click on the link next to the headline.
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  • Spring Airlines (Shanghai: 601021) Jumps 44 Pct In Shanghai Trading Debut (Chinese article)
  • Alibaba (NYSE: BABA) Seeks Stake In Insurer New China Life (HKEx: 1336) – Paper (English article)
  • Huawei, Global Union Partner On OTT TV Service (English article)
  • Dalian Wanda Group Pays 45 Mln Euros For Soccer Club Atletico Madrid (Chinese article)
  • eHi (Nasdaq: EHIC), Ctrip (Nasdaq: CTRP) Launch Next Phase Of Partnership (PRNewswire)

News Digest: January 15, 2015

The following press releases and media reports about Chinese companies were carried on January 15. To view a full article or story, click on the link next to the headline.
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  • Dalian Wanda (HKEx: 3699) Says 4 Investors To Put $3.9 Bln Into 20 New Malls (English article)
  • Wanda Cinema Line Issues Stock At Low Price, Well Below Other Valuations (Chinese article)
  • Suning (Shenzhen: 002024) Forms Logistics, Financing Unit (Chinese article)
  • Qihoo (NYSE: QIHU), Gree (Shenzhen: 000651) Chiefs Meet, Sparking Tie-Up Talk (Chinese article)
  • Kuaidi Taxi App Raises $500 Mln, Alibaba And Softbank Among Investors (Chinese article)

News Digest: December 26, 2014

The following press releases and media reports about Chinese companies were carried on December 26. To view a full article or story, click on the link next to the headline.
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  • Dalian Wanda (HKEx: 3699) To Buy Online Payment Platform 99Bill: Sources (English article)
  • UnionPay Inches Past Visa (NYSE: V), MasterCard (NYSE MA) In South Korea (English article)
  • Huawei’s Smartphone Sales Shoot Up After Copying Xiaomi’s Online Strategy (English article)
  • Samsung (Seoul: 005930) Calls In Experts To Halt Flagging China Numbers (English article)
  • Qunar (Nasdaq: QUNR) Makes Major Investment In Traveling Bestone Website (Chinese article)