Dalian Wanda Files For U.S. IPO For Its Sports Division

Chinese conglomerate Dalian Wanda Group filed confidentially for a U.S. IPO for its sports arm "that could fetch up to $500M," sources with direct knowledge of the matter said, according to Julia Fioretti of REUTERS. The company filed with the SE for the listing, "which could happen in the first half of this year, the sources said." The IPO could raise $300M to $500M, the sources said, "though one cautioned that $500M might be high." A Wanda spokesperson did not provide any immediate comment. Wanda’s empire includes real estate, sport and cinemas, but the company, owned by one of China's richest men Wang Jianlin, "has been rattled" by the Chinese government's crackdown on overseas deals and high leverage (REUTERS, 11/11).